2021 tax question

[jag40]

I buy and sell like others on eBay. My question is, do you include tax or exclude tax on purchase order total  ?

Thank you!

[stainlessenginecovers]

Assuming you are referring to sales tax; ebay collects **bleep**

1.) Get an SREA number **bleep**

2.) Collect tax (set up listings collecting tax with the percentage you deem **bleep**

3.) You will then have to **bleep**

[jag40]

I'm sorry and thank you, but I should have said my sales versus purchases I give tax person. Can I deduct taxes on an item I purchase?

[caldreamer]

Your "cost of goods" is whatever you paid **bleep**

[dbfolks166mt]

Depends on whether you are still **bleep**

1. During the calendar year 2021 if you collected and remitted state sales tax to your state then you include it i the total and it becomes a deduction. 

2. If eBay collected the sales tax **bleep**

3. If during calendar year 2021 you had a combination of 1 & 2 above because your state changed the law during the year then you include it as part of the purchase price **bleep**

[caldreamer]

This is crazy....EBAY is bleeping everything out.

[nobody*s_perfect]

Seems to be words that begin with the letter that comes after "E" in the alphabet, plus whatever came after that.

[jag40]

So cost of goods, item price plus shipping plus tax I can deduct?

[releasethekraken_1]

---

@stainlessenginecovers wrote:

Assuming you are referring to sales tax; ebay collects **bleep**

1.) Get an SREA number **bleep**

2.) Collect tax (set up listings collecting tax with the percentage you deem **bleep**

3.) You will then have to **bleep**

---

OMG, I'm dying!

[releasethekraken_1]

---

@nobody*s_perfect wrote:

Seems to be words that begin with the letter that comes after "E" in the alphabet, plus whatever came after that.

---

So if I write, "Freddy Freeloader first found freedom on Friday", I will get a bunch of bleeps?

Nope. Bummer. Maybe they fixed it? Fun.

[nobody*s_perfect]

They seem to have broken the all-time record for fixing a glitch.

[dbfolks166mt · Accepted solution]

So generally in accounting terms COGS is what  you paid for the item when you purchased it. Shipping, xees, packing material, etc. are expenses. See my response regarding the sales tax.