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June 5, 2019
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Filing a Schedule C for direct sales business, product that was purchased by me and then sold is considered inventory?

  • June 5, 2019
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Best answer by VEpling2

Yes.  Any product you buy for the purpose of selling to your clients is considered inventory.  Inventory should be valued at the price you paid for it plus any fees, taxes, and shipping included in the purchase.

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VEpling2
VEpling2Answer
Employee
June 5, 2019

Yes.  Any product you buy for the purpose of selling to your clients is considered inventory.  Inventory should be valued at the price you paid for it plus any fees, taxes, and shipping included in the purchase.