USA Taxes - is there anything for me to write off here?

[Sam1234]

Last year I sold nothing, paid ~$1200 in renewals, and let some domains drop that I had paid perhaps $2,000 on total. This ~$3200 is less than my Standard Deduction. If I wanted to account for that as a loss to be deducted from my income, would that be an "Itemized Deduction" and if so does that just mean I should take the Standard Deduction since it is greater?

 

[dna]

You might want to treat your domain name sales as capital gains and not income.
That way you can deduct your expenses from your profits.
If your domain name business is an LLC you can deduct all loss from all sales.
And loses can carry forward to years when you have profits.
And capital gains taxes are less than income taxes.
In other words, treat domain name sales the same as stock market investments.