I've used both programs for years and notice a problem this year that I don't recall from prior years. I understand the difference between "cost of goods sold" and "inventory." TT is focused on the former, QBs latter. The problem is that my total income, ordinary business income and income per return from Schedule K are off by an amount that equals the amount of inventory in QBs used during the tax year.
The only way I can see to reconcile it is to add an expense item on the Schedule M-1 items worksheet, which flows through to the Schedule M-2 items worksheet - a book/tax difference. Does this methodology seem correct?
