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Consignment shop owner also sells her own personal clothing items. Should that be taken out of the income since she sells them at a loss?

Greta
Level 9
 
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TaxGuyBill
Level 15

I would say yes.  The clothes were not bought for business purpose and were only use for personal use.  That makes it a non-deductible personal loss.

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TaxGuyBill
Level 15

I would say yes.  The clothes were not bought for business purpose and were only use for personal use.  That makes it a non-deductible personal loss.

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