Carl
Level 15

Business & farm

I assume by "last year" you are saying you started the business in 2019. Furthermore I'm assuming it's a sole proprietorship or single member LLC. If all assumptions are correct then you'll report all business income/expenses on SCH C as a part of your personal 1040 tax return. It makes no difference if you're filing a joint return either.

I would suggest you show all hte tablets as inventory in the COGS section. Then sell them off for whatever you can get. Most likely, you won't get what you paid for them. But there comes a point where you just gotta cut your losses as best you can and move on.