Hi, I sold on Amazon FBA, I bought merchandise for around 2000 dollars. I made some sales on Amazon but then the rest of the merchandise did not sell so I lost.?
How can I file the taxes?
03646
3 Replies
TurboTaxSusan
Moderator
Mar 23, 2024 12:27:34 PM
Are you going to continue selling on Amazon? If not what did you do with the unsold merchandise?
leenqwider
New Member
Mar 23, 2024 12:43:46 PM
No Im not going to do it this year, Im just storing the merchandise
TurboTaxSusan
Moderator
Mar 23, 2024 5:22:34 PM
You can claim your merchandise purchase in the inventory part of the self-employment section.
Opening balance: zero
Total purchase: $2000
Closing Inventory value: The cost of whatever you have left.