K M W
Employee Tax Expert

[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill

Hi, AS70, it sounds like maybe you have closed your business, and the only activity in 2025 was the sale of items you had in inventory. If that's the case, then your 2025 return would include the amount you sold the inventory for as income, and then report the cost of the goods sold as an expense. If you sold the inventory at your cost, then I would expect that the revenue would equal the expense, and the net bottom line for your business would show $0 net profit.  If, of course, you sell the inventory for more than your cost, the difference would be your net income from the business.

 

 

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