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August 31, 2022
Question

sold at a loss.

  • August 31, 2022
  • 1 reply
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95% of everything I sell on eBay & Mercari is at a loss. None of it is "Profit"... I sell for someone else who just wants to get rid of the items she has collected over the years. She does not have receipts. How do I handle this? Do I have to list everything I sold at a loss?

    1 reply

    August 31, 2022

    Since your “business “ is not designed to make a profit  it is considered a hobby. You can’t deduct any expenses but must report your income.