@globaltrader wrote:
If my gross profit minus COGS results in a loss,
A loss from COGS? What unusual circumstances led to that? Without knowing more information, that waives gigantic 'red flags' in my mind. You may want to look through the rules to determine if this is a business, or if it actually is a hobby.
https://www.irs.gov/newsroom/heres-how-to-tell-the-difference-between-a-hobby-and-a-business-for-tax...
