stella4am
Level 3
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@Mike9241Thanks for your response! I am nowhere near $30m and don't have AFS so I believe I qualify for X and/or Y. I'm trying to figure out the "right" way/pla...
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@ThomasM125Do you have a recommendation between these 3 options to report purchased/sold inventory?1) Include under COGS section as "Purchases" with 0 beginning...
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@DianeW777For clarity then, I'm wondering if it makes most sense to show inventory under Line 36 "Purchases" with a 0 beginning and 0 ending inventory balance (...
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@Anonymous_If I don't maintain an inventory, do you recommend putting inventory sold in "Materials and Supplies" on Line 38 in the COGS section, and putting 0 f...
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@DianeW777Thanks for clarifying. Do you recommend putting inventory purchases as "Materials and Supplies" on Line 38 in the COGS section, and putting 0 for begi...
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- Cheered Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... for ThomasM125. March 31, 2025 6:09 PM
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- Posted Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... on Business & farm. March 30, 2025 6:40 AM
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- Posted Re: Counting begining and ending inventory. on Get your taxes done using TurboTax. March 28, 2025 7:11 PM
- Posted Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... on Business & farm. March 28, 2025 6:44 PM
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- Posted Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... on Business & farm. March 28, 2025 10:03 AM
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- Posted Re: Bonus depreciation for items bought before business start date on Get your taxes done using TurboTax. March 27, 2025 6:11 PM
- Posted Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... on Business & farm. March 27, 2025 5:07 PM
- Posted Re: Bonus depreciation for items bought before business start date on Get your taxes done using TurboTax. March 27, 2025 4:31 PM
- Posted Re: Bonus depreciation for items bought before business start date on Get your taxes done using TurboTax. March 27, 2025 2:03 PM
- Cheered Re: Can i Use cash method on my tax return, and use cost of goods sold (accrual method for invent... for DianeW777. March 24, 2025 7:06 PM
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