I just started this year making and selling handmade jewellery at markets and online. So far I have made about $2500. I am filling out my tax return and am a bit confused as to what I should put for my Open Stock and Closing Stock in my Business Expenses. In the Simplified Trading Stock Rules is says "If you didn't have any trading stock in the previous year, the value of your stock on hand at the start of the year is zero ($0)", so should I be putting $0 as my starting stock and the value of the stock that I currently have has my closing stock?
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