Materials and Supplies "carryover"?

[go2sea]

Let's say I had $15k in Materials and Supplies last year, but didn't use any of it because I didn't sell any finished products. Would I enter $15k this year again (because that's the materials and supplies I still have), or $0, because I didn't buy any more materials and supplies this year?

[Fern · Accepted solution]

You would enter $0 because you did not buy any materials and supplies this year.

You reported the amount in your prior year tax return.