reselling gear (at a loss)... deduct or scratch from the record
This is probably ridiculously optimistic, but...
I had to sell 4 or 5 pieces of gear this year to make end meet, all at a loss. My understanding is that I don't have to pay taxes on that income. But... do I still deduct anything as a business expense? Like... the money that I didn't make back by selling the items that I bought in the same year? If so, can I count eBay and paypal fees against that loss?
Just to be clear, I was going to deduct some of these purchases as business expenses, but then I had to sell them before the year was out. Can I still deduct the value lost between buying and selling?