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schedule c

Tiger5
Level 4

have a customer that is a single member llc of a used tires and repairs business. they bought a truck load of tires, where should I enter this on the schedule c? Also were do I enter start up cost? 

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Accepted Solutions
abctax55
Level 15

I'd go for line 36, AND line 41 if not all sold.

Start up- line 27 via line 48.

HumanKind... Be Both

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5 Comments 5
abctax55
Level 15

I'd go for line 36, AND line 41 if not all sold.

Start up- line 27 via line 48.

HumanKind... Be Both
lptax
Level 2

Cost of Goods Sold 

Tiger5
Level 4

what method should i put to value inventory on line 33? i was thinking cost?

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qbteachmt
Level 15

@Tiger5 

Here is the Resource you need to use:

https://www.irs.gov/instructions/i1040sc

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sjrcpa
Level 15

Yes Cost

The more I know, the more I don't know.
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