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posted Mar 26, 2025 1:48:36 PM

"Change Inventory" Explanation in TT PREMIUM

In doing a final review, via a "yes" or "no" radio button on my Schedule C, it asked if I wanted to change my inventory. Well, chemo brain is a thing and I accidentally hit "yes" when I meant "NO," and now it wants me to provide a "explanation statement" as to why I want to change the inventory method for my online shop.

 

I do NOT want to change my method, but for the life of me, I can't find WHERE to change the "yes" to "NO." 

 

Might anyone know this, please? TIA, so very much!!

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1 Replies
Expert Alumni
Mar 29, 2025 10:44:55 AM

Go back to the Schedule C / Self-Employment Income and Expenses section.

 

If you are using TurboTax Online, click on the pencil next to the name of the business to open it for editing.

 

  1. Go to Expenses.  Scroll down and select either Supplies or Inventory.
  2. Click the pencil to edit.
  3. When you see the question, "Do you have inventory for your (name of business) work?" answer No.