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Yes, you are able to deduct the cost of inventory items that are not suitable for sale.
The following steps will take you to the Expenses section of TurboTax, which is where you will enter the cost of the defective items:
If you have inventory :
The above steps will include the cost of the unusuable inventory in Cost of Good Sold on your return.
If you do not have inventory:
NOTE: Only use one of the above methods for reporting the merchandise you threw away.
[edited 1/17/17 at 9:15 am]
Yes, you are able to deduct the cost of inventory items that are not suitable for sale.
The following steps will take you to the Expenses section of TurboTax, which is where you will enter the cost of the defective items:
If you have inventory :
The above steps will include the cost of the unusuable inventory in Cost of Good Sold on your return.
If you do not have inventory:
NOTE: Only use one of the above methods for reporting the merchandise you threw away.
[edited 1/17/17 at 9:15 am]
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