rbynaker
Level 14
12-07-2019
02:59 AM
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Was a 3115 filed?
A "small" (under $25Mil) cash-basis taxpayer can elect to treat inventory as non-incidental materials and supplies.
Operationally I'm not sure what difference that makes since non-incidental materials and supplies are basically treated like inventory (deducted when used, rather than when paid for). But maybe I'm missing something.