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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?
3 Replies

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.?

Are you going to continue selling on Amazon? If not what did you do with the unsold merchandise?

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.?

No Im not going to do it this year, Im just storing the merchandise

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.?

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.