I don't understand the example for the second year. It says $5,000 was sold but only $4,000 could be deducted since only $4,000 was sold? But $5,000 was sold, no?
Also in Turbo Tax Business Income section, I entered a value for "cost of purchases", expecting this amount to be deducted from gross income. But the cost of purchases amount I entered was almost cut in half by the program, forcing me to pay more in taxes than warranted. I'm sure I am doing something wrong, but I cannot figure out why this is happening. Hoping someone can help......
