Inventory

[yz226202]

I have inventory that didn't sell. Where do I put that on the TurboTax program 

[Vanessa A]

It should be in  your remaining inventory balance.

If you go into the business section of TurboTax,  you will be able to select Start next to Inventory/COGS.  Then you will select Yes, I have inventory, then it will ask you for your beginning and ending inventory.  Your ending inventory, remains on your books until it is sold.  

[Mike9241]

The IRS has rules for inventory. What method did you adopt when starting your business cost, lower of cost or market, other?

cost - you are stuck the only legit method is to dispose of the items then they are no longer in your inventory so you get the write-off.

lower of cost or market, the items can be written down to salvage value. 

other can't say.