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    Thanks. And turns out this is one step easier for...

    Thanks. And turns out this is one step easier for me. I didn't even remember there is a line on the tax forms for "inventory at end of year." I have all the old tax years' forms and have the last...
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    Thanks for the answers. I really appreciate the...

    Thanks for the answers. I really appreciate the time taken. I guess I was looking to see if there was a real IRS official answer, like if I don't have receipts I have to count it all as $0 basis, and...
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    If I just had to put a price on what I think I...

    First, are we talking $10,000, $1000, or $500 worth of beads at an estimated price? If it is under $1000, do an guesstimate and move on. If it is a couple hundred dollars, just posting on this thread...
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    This is what I thought at first too, but take one...

    The only way you're going to be able to do this is to price similar beads and assign your inventory a value. Or actually do a real inventory, find as many receipts as you can, and determine the value...
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    I think this is just a tiny bit unfair. I did...

    So basically you have no inventory system, not many receipts, and don't know your cost and sales numbers. Yes, it's going to be difficult to just guess a value or any other numbers like that. In...
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    I may have some old receipts, but I don't think I...

    I may have some old receipts, but I don't think I could match up the merchandise. Imagine it this way: I buy an estate lot of different amounts of 100 types of beads (total 100,000 beads) for $1000....
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    Fair Market Value of old merchandise

    I am restarting an old eBay business after 12 years away. I was a powerseller for many years, but never officially ended the business with the IRS - my dad got sick and in taking care of him, I sold...
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