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Get your taxes done using TurboTax
It's not a business. I do not do it for profit. I cannot sell the products for 6 months. By the time I can sell the product the household/consumer products are close to worthless. I don't intend to sell them all at. I get no cash from Amazon and most of the products are not sellable - but you are suggesting that I will pay income tax and self employment tax on something done sporadically and not for profit? Does not make any sense. I am willing to pay income tax on the value of the item less depreciation that occurs during the process of and the duration of the review.
Humor me - just tell me how specifically how I can get Turbo Tax to make an entry in Schedule 1 Part II section "Other Adjustments".
‎January 23, 2024
5:45 AM