I buy/resell items from garage sales, estate sales, etc.
1) I started selling in tax year 2020, filed a 1040-C, but didn't bother to report any COGS. I understand my BOY for 2021 has to be 0.
2) I'm selling items I've accumulated in the past many years. I know exactly how much I spent on additional inventory in 2021. That's the only dedication I'm interested in. But I haven't tracked whether the items I sold in 2021 were purchased in that year or in some prior year.
Can I still I calculate a COGS figure for 2021? Thanks in advance!
