@JamesG1 what about the $23k I spent buying items like toys and clothes to resell? I can't deduct that amount? When I do what you mention I have the $9k from the 1099-K showing on line 1 as income and then when I enter $9K as cost of purchases with zero inventory then it flows to line 3 on the schedule c and nets my gross income to zero. Can I maybe put $23k as cost of purchases instead since thats what I actually spent?
