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Deductions & credits
No one could know with any certainty if a larger than normal business deduction would invite enhanced scrutiny by the IRS. However, it is not appropriate to pick and choose what deductions to enter for your business, you should report the loss in devaluation of inventory if that is what happened. If the IRS should inquire about it, just have records available to substantiate the loss.
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‎April 11, 2024
7:34 PM
2,356 Views