Hi Carl and thank you so much for taking the time to explain. I really appreciate it.My situation matches Example 1. This is what I put in my tax for 2019:BOY =...
Coleen, thank you for your reply.In this case why the tax that I owe goes up when I input the correct beginning and ending inventory numbers? This is the part t...
Thank you again for your reply Robert,I got it! Just one last thing.If we take your example above, if I sell $5,800 of inventory in 2020 for a $1,000. How do I ...
Thank you so much for your reply!I'm sorry for dummy questions, but this is very new to me. I don't fully get how inventory works. If I have paid lets say $6,00...
If I file Schedule C business return with a loss for 2019 and liquidate my inventory in 2020 or 2021, will the IRS be on the look for my inventory? I'm not exac...
