Deductions & credits

Thanks for the reply!

 

So for items I re-sell, you are thinking I would only be able to deduct what I actually sell the product for, rather than what was reported on the 1099, which was the item's estimated tax value when I first received it?

 

In a rare situation where I re-sell the item for more than it was initially valued on the 1099, how would I handle that?