How would you go about repairing your tax return?

Question

Have income from 2004 of about 5000 from ebay. NOT A SIGLE RECORD OR RECORD KEEPING showing what was a complete loss, how much was actually net profit versus gross profit, business expenses, etc. The account has been long closed and deleted from ebay. Also, the Paypal account has been long closed as well. Where will I ever start?

Answer 1

The official answer: if you know how much income you had, but don't have any records of the expenses, then the whole amount of income is taxable. You would amend your return for that year if you filed one, or file a return now if you didn't, showing the amount that was income.

That said, unless the IRS is asking you about this, it probably will go unnoticed if you do nothing about it. Note that this isn't advising you to do this, since you are required to pay taxes on all income.