rwom1217
Level 4
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I selected cash method and used that for my inventory. I was unaware this was (sounds like) a global selection across the business. For expenses that bridged mu...
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With inventory, I used the cash method. With expenses that bridged multiple tax years, I'd typically do the math to deduct the amount used each year. For exampl...
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What you are all saying makes sense. It was actually personally owed physical property/collectibles that I sold privately so the IRS wouldn't know about them. I...
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In tax year 2023, I paid for and deducted the cost of biz insurance for the first time. I did the math such that I deducted the actual amount used that year. I ...
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When you say voluntary, does that mean it isn't legally required?
Activity Feed for rwom1217
- Posted Re: what year to deduct business insurance premium on Get your taxes done using TurboTax. 2 weeks ago
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- Posted Re: what year to deduct business insurance premium on Get your taxes done using TurboTax. 2 weeks ago
- Posted Re: Where to claim unpaid online sales tax in TT on Get your taxes done using TurboTax. 2 weeks ago
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