@ThomasM125 wrote:
You should have left the ending inventory off your income statement in 2017, and it would have shown as a deduction in that year. You can amend your return to accomplish that.
If you didn't know until 2018 that the inventory was worthless, you can complete a business schedule in TurboTax like you normally do, and just show the ending inventory as -0-
That is only *IF* it actually is worthless and was discarded. If may have been converted to personal use or given away to friends (which is personal use) and therefore you would NOT get a deduction for it.
