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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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    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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