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Business & farm
If you are not keeping an inventory, then you deduct merchandise (items you hold for resale) as "supplies" when you actually sell the merchandise (i.e., you do not deduct unsold merchandise).
See https://www.irs.gov/instructions/i1040sc#en_US_2022_publink24329wd0e2328
‎January 16, 2023
9:06 AM
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