If the intent of your buying and selling activity is to make a profit, you should file using Schedule C, which will allow you to deduct all of your business expenses, and deduct a loss if applicable. Your accounting method would be the Cash method. I would enter all of the items you purchased for sale as Inventory Purchases in the Cost of Goods sold section. You beginning and ending Inventory value would be zero. You could also list under "Other" as something such as Items Purchased for Resale. You will get the same result either way.
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