Which numbers to declare incomes

[rocketscollectibles]

Trying to figure out things to declare incomes from selling from 2024 and i'm a bit lost. I look at my sales and perfomance and i look at financial statements provided by ebay, sales numbers never fits. I would guess the monthly financial statements are the only thing we should trust and use? But it does not include taxes paid by buyers? While i paid fees on taxes? We use numbers without taxes paid? 

If anyone has canadian articles explaining things about buying/selling declarations it would be welcomed 

[rocketscollectibles]

Re reading i missed those screenshots. This is the numbers i'm talking about when i talked about numbers not fitting. Some stuffs are not included there. Refunds, claims, or i don't know what. But compare with the monthly financial statement ebay send and i'm sure you'll find numbers not fitting too. From my understanding financial statements are what ebay base themself to do their own declarations so i feel like those are the real numbers. I think our seller's hub miss updates in numbers or something. 

One very quick exemple. On the hub it says i purchased $30.32 shipping label. In reality it's $27.32. I got a $3.00 credit for a promo. On the hub this amount is not removed.  On the financial statement it is, and the +$3.00 is also there.  

There is more like this. Happens with many things. 

[ricarmic]

I'm sure there are multiple ways to move inventory from non to business related.

In my situation, I did use an accountant when I did that and they had me determine and include a fair market "purchase" value for the "to-be" business inventory as the "starting" inventory (merchandise inventory) when I did that.

Things may have changed since then and/or there are other mechanisms likely, I'm only putting forward what I did many years ago.

[triber]

I would love a copy too. We have very complicated tax forms, and Pierre was always such help. Thanks

[rocketscollectibles]

Did you include only the items to sell or did you include everything related you had? Like shipping supply, postage stamps, packing supply, etc. I think i'll do a rough estimate of my inventory just to have a number now. We're february and more time flies less i will know whats coming from before 2024. I got a lot of stuff related purchased for selling activities but that are not items inventory. I guess we include that? 

[ricarmic]

Starting value for everything I had on hand including supplies like envelopes, postage stamps etc, but receipts for the original amount was preferred, ie if I bought 500 envelopes and had 200 left it was better to have the receipt for the original 500. Having said this I think as long as you're conservative on the price you assign whats left you should be ok, it should not be large overall compared to the original item cost etc totals.... but I'm not an accountant of course so these are only my thoughts/experiences.