OT - Tax Return Question - Net54baseball.com Forums

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03-29-2022, 03:07 PM

Eric72

Eric Perry

Member

Join Date: Oct 2012

Location: Philadelphia Suburbs

Posts: 3,808

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 (135/524)
1956 Topps Baseball (195/342)

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

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