Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 11, 2025 4:58:27 PM

I started my business last year. I know my beginning inventory for the year was 0, then I purchased items. If I sold any of them are they still included in EOY inventory?

0 1 407
1 Replies
Expert Alumni
Apr 11, 2025 5:03:11 PM

No.  If you sold items, they are subtracted from your end of year inventory. 

If you are a small business, you can choose not to keep an inventory and instead list your purchases as supplies and your sales as sales.