Question
Trade in items on schedule C
Hello!
My client has an LLC. He does collectible sales.
He has done some transactions with trading. Client had to trade in an item for another one, and later on in the same year he has sold that item for an amount of $. I am confused what to put as a purchase in this situation?
I wanted to make sure and do all the best calculation to input the right $ amount on schedule C, so in the end I can figure if he had an earning or a loss.
Appreciate every response and suggestions.
