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  • Re: I purchased $10,000 worth of inventory on a CC I plan to pay off over the next year. Do I list that expense on 2022 tax or on 2023 tax filing for the amount I paid off?
Anonymous_
Anonymous_
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Get your taxes done using TurboTax

If you do not maintain an inventory, you have to use a method of accounting for inventory that clearly reflects income.

 

See https://www.irs.gov/instructions/i1040sc#en_US_2022_publink24329wd0e2328

‎December 28, 2022 11:01 AM
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