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| AUTHOR |
MESSAGE |
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wildflower59
65 / female
McGaheysville, Virginia, US
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Tax Question
Does anyone know how to claim this?
start up inventory for 2005 was $82,000 full inventory was sold for $17,000 this is a loss of $65,000. If I don't deduct the inventory change from Sch C then it will show a profit of $65000. I can't find anything on the IRS website or in the book. The other forms I have are intended to show loss of property or sale of property excluding inventory. 
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| April 17, 2006, 20:41 |
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svedishchef
45 / male
Melbourne, Victoria, Australia
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Re: Tax Question
I know what you can do with it... I think theres a 1040SE Self Employment thing where you could do it there, at least thats what I'd suggest.
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| April 17, 2006, 20:43 |
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wildflower59
65 / female
McGaheysville, Virginia, US
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Re: Tax Question
I'll go over that one again, maybe I missed something. thx
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| April 17, 2006, 20:46 |
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wildflower59
65 / female
McGaheysville, Virginia, US
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Re: Tax Question
We've filed for an extention so if anyone has any other suggestions.... 
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| April 17, 2006, 21:52 |
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GG317
60 / male
Bowl of Granola, Massachusetts, US
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Re: Tax Question
Check with TAXACT.com You can browse all the forms without paying for the service. You might find the one your looking for...Just a thought... GG
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| April 20, 2006, 12:13 |
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wildflower59
65 / female
McGaheysville, Virginia, US
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Re: Tax Question
Thank you! I'll check on it. 
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| April 20, 2006, 21:45 |
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