Quote:
Originally Posted by marino5084
Paypal has posted my 1099 on their site. Can I use this to file taxes?
Can I just use my year end statement as a receipt. It shows all payments received and all payments made and shows a wash (actually a small loss), or do I have to provide all receipts?
My main transactions are for group breaks and I do not profit on my breaks as others do.
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You need to make sure to account for existing inventory. Any payments sent for items that are still in your inventory do not count as expenses until the items are sold.