I'm a little perplexed/surprised by TMR and who sells to them.....

I was the first H&R Block client who claimed eBay income (1997 or 1998) per H&R Block.

They made numerous calls while I was there checking out the specifics of my spread sheets showing costs of goods, S/H and selling prices (I did not charge sales tax for in-state sales as that was not a requirement @ the time). 

I pointed out to them that I had not taken out a DBA, which I assumed  was required to itemize profit/loss, but they said that it was not needed (it was, IMO but as they were willing to sign off on it I went forward with them).

This is the only time I have ever fudged anything in my life and it still haunts me.

DeKay

Relax, IRS is being fudged to death by a certain high government official.

lewm,

13,771 posts, and you don’t understand the acronym TMR? Probably one of the top sellers on this site!

@mulveling 

You just need to know your basis cost (including transaction costs) and approximate purchase date. I don't know how others do this hobby, but I'm in the red for every component I turnover so it's simple matter of recording the lines for your "loss, no net profit" on your taxes. Had to finally deal with a PayPal 1099K from last year, and will again this year. A little hassle, but not too hard, and impacted my return 0 dollars.

My situation exactly.  I basically pulled all my purchases for items that I sold (where the buyer paid using PayPal) by taking screen shots from USAM, some going back several years.  Lost money on pretty much every transaction, with an overall net loss.  My tax preparer had no issues with it.

I would encourage any of you who have not discovered TMR to check out their site. It is the most amazing collection of esoteric quality gear in one place. There is nothing sold that isn't audiophile quality. As a buyer everything sold is bench tested and warrantied with a 30 day return. As a seller, you are off the hook for shipping, payment collection and dealing with trying to sell expensive gear. I recently downsized and explored options for selling several pieces of Mac gear. The consignment percent I received was higher than any local shops offered and was well worth it. Keep in mind when you look at the site, unlike any of the auction sites, every piece of equipment is in a box on their shelf. They listed a pair of Focal Grande Utopia speakers this weekend, go to the site to see what a pair of $550,000 MSRP speakers look like! (I did a search, the currently have 420 speakers listed above $1,000). 

I ended up trying to downsize by getting rid of my Mac separates so I tried several Iterations of Musical Fidelity integrated. After suffering tired ears, I ended up going back to Mac with a MAC 7200. I did all this with the Music room using their 30 day return policy. It helps that I am a couple of hours away so I was able to avoid shipping.