Hi all,
So here's an update. After multiple tries/submissions/rejections with the tax accountant and the turbotax IT folk (two of them), I've successfully been able to submit my taxes without a rejection (hasn't been accepted yet - but every rejection is an exact 5 minute lag via email and I'm well past 30 minutes without the rejection email).
Root cause:
The rejection statement saying due to "Schedule C, Profit or Loss From Business, Inventory at End of the Year." is wrong/misleading. It was not due to inventory. It is due to an expense being negative.
- I received a refund from insurance which resulted in my general liability being -$500 on the expense line.
- Accountant and IT suggested remove that there. So I put $0. And then put in Other Income +$500. Returned Income (Insurance).
