Can my client deduct inventory/COGS paid for in 2019 if her business did not open until 2020? She wants to elect cash basis accounting and not track inventory. - Intuit Accountants Community

Intuit Accountants Community
:
ProConnect Tax
:
ProConnect Tax Discussions
:
Can my client deduct inventory/COGS paid for in 2019 if her business did not open until 2020? She wants to elect cash basis accounting and not track inventory.

sarah4

Level 2

‎04-27-2020 02:46 PM

Mark as New
Bookmark
Subscribe
Permalink
Print
Report Inappropriate Content

Best Answer Click here

Labels

ProConnect Tax Online

0 Cheers