I disagree with item #1 and #4 and #6.
For item #1, that would be the business type for Ebay, Inc. You would be a reseller of some sort.
For item #4, maybe. But you need proof that the card is wortless, i.e. rejection by TPG and then disposal. I prefer to just sell it as a reprint and then I can get the actual loss.
For item #6, the items you purchased in 2010 and didn't sell is inventory. Think of it this way....you can't buy/sell for a profit of $200K for the year and just buy a T206 Wagner on Dec 31st for $200K and say that is COGS and no profit was made.
Last edited by egbeachley; 04-03-2011 at 04:34 PM.
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