Hi everyone! Did we ever figure out when you are supposed to claim when you sent back your products to MKC. I sent mine back December, but MKC didn't receive it until January. Also, since I can no longer get on intouch, how do I get my info for taxes? Thanks. 

It's NOT a sale ... you already bought that stuff.

It's actually a business LOSS ... you can deduct the shipping, insurance, and the 10% you don't get back from any income yuo might have had.

Okay, bumping this up cause I just finished my taxes.  Yes, it was a couple of days of hell, but here we are!

LG, you're right, it does reflect as a loss.  But I ran mine through the cost of goods formula, beginning inventory from last year's return, then $0 inventory this year, and wrote my refund check as a sale.  From there, it took it all as a loss, and for those of you who like me are super confused about this, it all came out okay, and my refund check was about 13K.  So even though I thought I was going to take a big hit, it still came out as a loss because of the 10%.  I can't remember who told me to write it as a sale, but it worked, so THANK YOU!

AND THANK GOD I'M FREE FROM MARY KAY!!!!!

nolongerconfused, I think the line for returned product has to do with clients returning product to you. I treated mine as not having been purchased at all. I never did figure out how to deduct what I lost. I guess if you left it on your inventory and then deducted it at the end of the year it kind of takes care of itself and shows the loss. Best of luck.