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Deductions for side businesses done on eBay, Poshmark, and Facebook
Hello, I started a side business of reselling good over Ebay, Poshmark and Facebook. Each one I have over $600 in sales so I know I will get a 1099-K. I am wondering what can I deduct to offset the sales in addition to the cost of goods sold? For example, can I deduct the part of the house we use to store inventory, take pictures and prepare products for shipping? Can I deduct the miles/gas that it takes me to go to the post office and UPS to mail packages? Thank you!
‎November 16, 2022
11:49 AM