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MartinR59
Level 2

Supplies & Materials for Selling - Write Off?

Hello - Am I able to write off any of the items needed to re-sell items? For example, postage, envelopes, tape, etc.? 

 

Thank you!

1 Best answer

Accepted Solutions
Sandy_M65
Employee Tax Expert

Supplies & Materials for Selling - Write Off?

Hi-

If you are reporting the income you received for the sale of the items as a business, (Sole proprietors include their business income on a Schedule C on their personal tax return), then yes you can write off the necessary expenses.  Please see the links below for additional information.

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://www.irs.gov/pub/irs-pdf/p334.pdf

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1 Reply
Sandy_M65
Employee Tax Expert

Supplies & Materials for Selling - Write Off?

Hi-

If you are reporting the income you received for the sale of the items as a business, (Sole proprietors include their business income on a Schedule C on their personal tax return), then yes you can write off the necessary expenses.  Please see the links below for additional information.

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://www.irs.gov/pub/irs-pdf/p334.pdf

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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