Carl
Level 15

Business & farm

If your business does not carry inventory, then why did you tell the program it did? That's the only way the program would be asking you for cost of goods sold. See attached screenshot to understand.

If your business did have inventory on Jan 1 of the tax year, then you "MUST" show it's complete and total disposition as part of your closure process. Any unsold inventory *MUST* be shown as removed for personal use. Then your "cost of goods sold" for that inventory will be zero, since you removed it for personal use and did not sell it in 2019.