topic I just read that I don't have to report inventory if I make less than $1M in sales, but when I try to remove the info from TurboTax, it doesn't do anything. in Business & farm

I just read that I don't have to report inventory if I make less than $1M in sales, but when I try to remove the info from TurboTax, it doesn't do anything.

cannotsatisfy — Thu, 06 Jun 2019 00:13:32 GMT

There is currently a number in the inventory field for 2017, I try to delete it but nothing happens, the number is still showing up.

Yes, in addition to removing the inventory balances, you...

PatriciaV — Thu, 06 Jun 2019 00:13:33 GMT

Yes, in addition to removing the inventory balances, you should also uncheck the box for "My business carries an inventory." This is found on the page "Tell Us More About Your Business" in the Business Profile section.

I can't find this section. If I go to the business sectio...

cannotsatisfy — Thu, 06 Jun 2019 00:13:34 GMT

I can't find this section. If I go to the business section, click "inventory" there's the option "does your business carry an inventory?" I click "no" and nothing changes. I click the trashcan next to Inventory and it takes me to the same page.

If you had a beginning balance in inventory from last yea...

PatriciaV — Thu, 06 Jun 2019 00:13:36 GMT

If you had a beginning balance in inventory from last year, enter zero for ending inventory (you will need to include Inventory this year to clear it for next year).

Otherwise, check the box for inventory, then remove any entries you made for that section.
Then go back and answer no, along with deleting Inventory (trash can).

If the value still remains, you could try deleting the Schedule C Wks. See this post for instructions: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1894474">https://ttlc.intuit.com/questions/1894474</a>