Jessica Ly
Level 2
04-08-2023
11:29 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Inventory, Supplies, pedicure chairs, tables, furniture. The previous owner left everything in the salon for her. She bought it with the purchase price $15k in Jul 2022. After she owned it, she bought more supplies/inventory, repaired/renovated (painted walls, ceiling, upgraded bathrooms, decorated the salon). However, she couldn’t make money, so she sold it $30k to a new owner in Dec 2022. How I can report $15k ( she bought) and $30 ( she sold it) in Schedule C or schedule D? . Thank you