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I use cash method on my tax return, can i deduct all inventory cost at the same tax year of purchase instead of waiting the inventory is sold. If so, should i use the cost of goods sold form, or deduct them as "Other deductions"
I use cash method on my tax return, can i deduct all inventory cost at the same tax year of purchase instead of waiting the inventory is sold. If so, should i use the cost of goods sold form, or deduct them as "Other deductions"
‎February 15, 2024
1:01 PM