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Level 2
posted Feb 15, 2022 6:52:54 AM

Cost of goods

I transferred my 2020 file to 2021. There is an entry in COGS for 2021 that I did not enter. What is it and how did it get there?

 

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1 Best answer
Expert Alumni
Feb 15, 2022 7:04:40 AM

In the COGS section, TurboTax has transferred your 2020 closing inventory to your 2021 tax return as opening inventory.

1 Replies
Expert Alumni
Feb 15, 2022 7:04:40 AM

In the COGS section, TurboTax has transferred your 2020 closing inventory to your 2021 tax return as opening inventory.