I have an amazon consulting business and part of that business I buy products and sell them. I have lots of inventory I want to leverage as a loss to lower my taxes.

How can I declare this as a loss as I no longer want to continue this part of my business? Im looking for something more than the minor donation deduction. 20-30k worth.

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I have an amazon consulting business and part of that business I buy products and sell them. I have lots of inventory I want to leverage as a loss to lower my taxes.

I have an amazon consulting business and part of that business I buy products and sell them. I have lots of inventory I want to leverage as a loss to lower my taxes.

What does discard mean and you can write off part of it ? I’ve been trying to google it, do you have a reference to what you are saying so I can look it up? TIA

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