Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Apr 5, 2022 4:10:34 PM

Etsy shop inventory question

I started selling on Etsy. I sell mostly vintage items and also a few handmade items. I'm selling vintage items that I have collected over the years. Things that are in my home and garage. My question is about inventory. The choices are:

 

1. My business carries inventory

2. My business buys and immediately resells goods

3. None of the above

 

Would I choose "None of the above" as I'm selling items that I already owned prior to opening my Etsy shop?  

 

 

0 1 532
1 Best answer
Expert Alumni
Apr 5, 2022 4:27:52 PM

Yes, "None of the above" is the best answer. 

 

The real purpose of this question is to determine if you carry an inventory of products. If most of your sales are of items you have owned for a long time, it would difficult to track them as inventory. 

 

Click here to learn more about inventory. 

1 Replies
Expert Alumni
Apr 5, 2022 4:27:52 PM

Yes, "None of the above" is the best answer. 

 

The real purpose of this question is to determine if you carry an inventory of products. If most of your sales are of items you have owned for a long time, it would difficult to track them as inventory. 

 

Click here to learn more about inventory.