The hobby/business is with a trading card game. I buy individual cards or sealed products mainly online and resell them online. I expect to make a profit of a couple grand annually. If I can classify it as a hobby and be able to deduct my purchases, that seems like the way to go.
What all would be covered under the COGS? Below are the categories of my expenses going from most likely to lease likely.
- Individual cards and seal products
- Shipping costs (Stamps and fees)
- Shipping supplies (Ink, paper, tape, etc.)
- Print (Solely used for this purpose)
I appreciate the help everyone is giving me!
