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January 16, 2023
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please do not contact me, I am not the person who wrote this thank you

  • January 16, 2023
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Best answer by Anonymous_

If you are not keeping an inventory, then you deduct merchandise (items you hold for resale) as "supplies" when you actually sell the merchandise (i.e., you do not deduct unsold merchandise).

 

See https://www.irs.gov/instructions/i1040sc#en_US_2022_publink24329wd0e2328

1 reply

Employee
January 16, 2023

If you are not keeping an inventory, then you deduct merchandise (items you hold for resale) as "supplies" when you actually sell the merchandise (i.e., you do not deduct unsold merchandise).

 

See https://www.irs.gov/instructions/i1040sc#en_US_2022_publink24329wd0e2328