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I started an online store for used and rare books this year (2021) but purchased a lot of inventory to stock my sight in 2020. is this considered a startup cost?
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June 15, 2021
7:24 PM
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Investors & landlords
Inventory is a special category and is used to determine cost of goods sold (COGS).
See https://ttlc.intuit.com/community/tax-topics/help/do-i-need-to-report-inventory/00/1700549
June 17, 2021
8:31 AM