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Level 2
June 1, 2019
Solved

Sold my bus. in 2018 with forms 4797 & 6252. inventory was included in the sale. Do I put $0 on Sched. C line 41 inventory at end of year or value at time of sale?

  • June 1, 2019
  • 2 replies
  • 17 views
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Best answer by CherylW

Because you closed out your business physically, your ending inventory is 0.

2 replies

CherylWAnswer
Level 11
June 1, 2019

Because you closed out your business physically, your ending inventory is 0.

Level 2
June 1, 2019
I sold the business so the inventory value will be listed on 8594 as income. Won't that be counting it twice?
Level 11
June 1, 2019

So you HAVE sold it.  You should be counting the money you got for it as inc