2280420
My tax return was rejected because it says I reported a negative inventory on Schedule C.
This is not true, I reported a positive inventory of $5,213.
I've tried resubmitting 3 times and every time it is rejected. This is frustrating because TurboTax did a check and found 2 other errors ( which I corrected), but TurboTax doesn't find this error. But the IRS rejects it anyway. So frustrating. Any ideas?
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@schulz995 , something does not make sense --- Prior YE inventory ( value ) + all inventories acquired during the year LESS current year end inventory should be what has been sold/used ---- so please look at the inventory reconciliation ( $ amount) i.e. all the entries in the inventory area. Perhaps you also need to look at the gross sales especially if yours has no value add i.e. like you but flowers , arrange these and sell.
If the above fails to uncover, perhaps you can share the items on schedule-C -- just line number and amounts ( no personally Identifiable information please-- this a public board -- and then may be one of can see why IRS is claiming a negative inventory.
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