turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

dot9
New Member

Turbotax Expenses Bug

Hi I am trying to edit my work related expenses, specifically my inventory expenses. Originally I had inventory expenses but was advised to put the inventory expenses under my supply expenses. When I try to delete the inventory expenses I keep receiving an error. I can not continue with filing my taxes because the system still believes that I have inventory expenses to report when I do not. 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
gloriah5200
Expert Alumni

Turbotax Expenses Bug

Did you have end-of-year inventory costs on your last year's return?  If so, then the software is automatically carrying the end of the year amount into the inventory section to continue your return the same way as you prepared it last year.

 

In order to "break the cycle", you may need to go in and delete the beginning of the year inventory expenses carried from your 2019 return or replace them with a 0.

 

If you do carry an inventory, then you are required to report it as an inventory.

 

If each year, you only purchase the items you sell in that year, then you can still use an inventory but enter a 0 ending inventory and a 0 beginning inventory.

 

I am not sure of who told you to include your inventory as supply expenses nor the reason why, but if you have a sales business that generally would carry an inventory, IRS may question your return if you do not show one on your business return.

dot9
New Member

Turbotax Expenses Bug

Thanks for the help! Ill make the changes you advised 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies