OT - Tax Return Question - Net54baseball.com Forums

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03-29-2022, 04:07 PM

Eric72

Eric Perry

Member

Join Date: Oct 2012

Location: Philadelphia Suburbs

Posts: 4,073

Quote:

Originally Posted by Jason19th

The issue really isn�t inventory. You need to match up gross sales with the cost of those items to get net sales. Then you can take other allowed business expenses

I have the costs. I'm just trying to figure out whether to include (in my ending inventory total) items that are not yet listed for sale.

For instance, I listed a few items today. I've had them for a decade (or more) but didn't have them listed for sale as of 12/31. Should they be included in my ending inventory total for my tax return next month?

__________________
Eric Perry

Currently collecting:
T206 (137/524)
1956 Topps Baseball (199/342)

"You can observe a lot by just watching."
- Yogi Berra

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