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Old 10-17-2016, 05:17 PM
PhillipAbbott79 PhillipAbbott79 is offline
Phillip Abbott
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Join Date: Jun 2016
Posts: 414
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Hi,

Don't pay taxes on things that are not profit. While you sold them for 22,000 I am sure you paid something for them if not most of that. If you broke even you are likely free and clear on what you owe. It is highly unlikely that they can prove exactly what you sold, and prove exactly what you bought them for, if you paid cash.

I had a similar problem where they said I didn't fill in the boxes properly and I told them I accounted for it in my adjusted gross income. That is all that it took to get it to go away.

A simple hand written mailed reply stating you did not profit from the 22,000 in sales should do it. You may even want to indicate that there is a possibility of loss and the government may in fact owe you more money, then thank them for bringing it to your attention.

Phil
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