@ThomasM125 Thanks for your response. To clarify, I'm looking to utilize the exception for small business taxpayers as previously mentioned in this thread by @DianeW777 and @Vanessa A. My understanding is under the TCJA, I can treat inventory (including finished goods purchased for sale) as "non-incidental materials and supplies" and ignore the COGS section completely. However, it appears I can only deduct the inventory treated as "non-incidental materials and supplies" in the year that the products are actually SOLD (not the year I purchased them). I believe this means the numbers would be the same, just in a different place (either under COGS or Expenses). In TurboTax, do I put "Non-Incidental Materials & Supplies" under "Enter Business Expenses Not Yet Reported"? This flows to Line 27a under Expenses.
