I am "Febuzled" for sure. BOY Inventory = EOY Inventory so COGS is Purchases for the year. It tells me EOY Inventory is negative so I don't know why. I looked back at last year and I used Lower of Cost or Market (LCM) for inventory method and this year I selected Cost. I corrected that and resubmitted. Still same issue. No personal use of inventory or other adjustments. Exact error is below:
Data in the return is missing or invalid. Please double check your entries.
We encountered an issue processing your e-filed return. Review the reason for the reject related Schedule C, Profit or Loss From Business, Inventory at End of the Year. The IRS does not allow this to be a negative amount. Make the appropriate change(s) and re-submit this return electronically. if the reject continues, you need to print and file this return via U.S. Mail.
