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Level 2
June 1, 2019
Solved

Sch C End of Year Inventory

  • June 1, 2019
  • 2 replies
  • 17 views
I was looking at last year's Sch C and noticed the line for the End of Year Inventory (line 41) is blank. It should have been 0 anyway.

Do I need to include a explanation to the IRS for having 0 on this year's return for the starting inventory because for some reason it wasn't filled in last year?
Best answer by

No, you don't need to include a explanation to the IRS for having 0 on this year's return. It's actually fairly typical. In addition, it makes sense that last year's ending inventory of "zero"/blank would be this year's starting. The fact that it was blank is a non-issue.


2 replies

Answer
June 1, 2019

No, you don't need to include a explanation to the IRS for having 0 on this year's return. It's actually fairly typical. In addition, it makes sense that last year's ending inventory of "zero"/blank would be this year's starting. The fact that it was blank is a non-issue.


gentryv42Author
Level 2
June 1, 2019
Thank you!