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Schedule C - Inventory Questions
First I know this question has been asked and answered, but I don't understand how that relates to answering questions in the software. Bear with me... I understand I do not have to do inventory and report them on Schedule C. Way too difficult for me. I started single proprietor LLC in 2021, very small business out of my home. Think Crafting/Artist earned under $5,000, before expenses. So if I check the box about inventory "my business does not have inventory" then there is not sufficient spots to put in all of my expenses. So do I answer that question, the other way (not check that box)... and then leave both inventory spots blank? Meaning opening inventory and year end inventory both blank. That seemed to be correct, and was able to get the rest of my expenses in. But I am just checking if that's the proper way to do it.