Originally Posted by
MinnMan
That's interesting. What's my cost when I'm selling used items (or even unused items) at a loss compared to the purchase price? Is there some fair way to calculate the depreciation? Also, in some cases I have no idea how to evaluate the cost - i.e., OEM items that were never purchased individually.
i just have a spreadsheet for my sales with estimated cost, I have no receipts or anything. I only sell about $1-3k a year and the 1099 at $600 is new for this year so no experience dealing with it.