Quote:
Originally Posted by Kco
There is a reason I said it depends.
Perhaps you're not following my point, if he is a business that is absolutely different and he should be keeping proper P&L on his business and every single item. He'd also be able to offset any gain with purchases of other items for inventory to replace it or sales of other items at net loss.
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The only part of your statement that I’m not following is your assertion that buying inventory is a deductible expense for a dealer.
Inventory is not deductible when a dealer buys it. It’s only deductible as cost of goods sold when the dealer sells it.