DaveF1006
Expert Alumni

Business & farm

I would do nothing with your small tools inventory. You could have expensed or taken depreciation in the years you purchased them. Since you neither expensed or taken depreciation just ignore them unless you wish to amend your prior returns to report those tools.  It would be more trouble than it is worth.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"