Question

I purchased a travel trailer for my temporary self employed job to live in for 5 months and sold it afterwards for less. Would that be a start-up cost, or expense?

Forum|Forum|4 years ago
April 7, 2022
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TurboTax Self Employed Online

Neither, if it was for personal use. You are unable to deduct personal expenses from your self-employment income. If your trailer was used exclusively as workspace or inventory storage, then you could report it as a business asset and then record the gain or loss on the sale.

Start-up costs are more along the lines of market research, acquiring suppliers, and staff training. TurboTax has an article about differentiating between start-up costs and regular business expenses.