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Selling on eBay - tax questions - Help me understand how this works.
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<p>[QUOTE="ldhair, post: 1731464, member: 11540"]Not getting a 1099 has nothing to do with the taxes owed. You may owe taxes on most anything you sell. </p><p>How much you owe is the hard part to figure. You must be able to prove your cost basis to the IRS. </p><p>Good records of how and when the coins came to you are very important.</p><p>Good records of sales and cost of sales are just as important.</p><p><br /></p><p>As Doug said, you need a good accountant to keep out of trouble. </p><p>There is just too much involved to get it right on your own.[/QUOTE]</p><p><br /></p>
[QUOTE="ldhair, post: 1731464, member: 11540"]Not getting a 1099 has nothing to do with the taxes owed. You may owe taxes on most anything you sell. How much you owe is the hard part to figure. You must be able to prove your cost basis to the IRS. Good records of how and when the coins came to you are very important. Good records of sales and cost of sales are just as important. As Doug said, you need a good accountant to keep out of trouble. There is just too much involved to get it right on your own.[/QUOTE]
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