Hi, is this still applicable? And if so, what happens on the tax returns under end of year inventory? It should be zero right, if all inventory is now expensed during purchase? This whole thing is extremely confusing and I have read conflicting articles constantly regarding this. From my understanding the TCJA allows small business to deduct inventory during purchase, but others say that you can only deduct sold items and must calculate COGS to reflect accurate income... So which one is it? Thanks,

Kevin