Hi everyone,
I hope you are all doing well in these tough times.
I started an E-Commerce business in 2019 and spent for merchandise, online ads, online store fees while I only sold very few items. My total expenses are ~$7,000. My earnings from sales are $200. I plan to try selling whatever I can and stop with this business.
Will the IRS accept this as a business or as a hobby? I don't know if I'll be able to sell a lot, but already reduced my expenses as much as I could.
What is the best way to file my return for this business?
Thank you much
Best regards
Ivan
