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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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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?

No.

Hal_Al
Level 15

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?

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

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