Two more quick things. One, you probably know this, but a business must make money a certain number of years in a period (I think it’s 2 out of 5, but I haven’t

Two more quick things. One, you probably know this, but a business must make money a certain number of years in a period (I think it’s 2 out of 5, but I haven’t checked that in a while), or else you lose the business presumption. You only have to make $1 in those years, so it’s an easy enough test to meet. Two, if your major business is buying and selling things, even if you treat it as a hobby, you could deduct the cost of goods sold against your revenue. You can always deduct the basis cost of something you sell, people do it all the time for cars, houses, art, horses, etc etc. If COGS is the major cost of your business, then you should always be able to deduct that even if you can’t deduct incidental costs like internet service and accountant’s fees. If your accountant doesn’t agree, time to get a new accountant.