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Level 1
December 7, 2019
Solved

Do you report stock as purchases and report them on schedule C, page 2 at the end of the year? Is there supposed to be a record system?

  • December 7, 2019
  • 1 reply
  • 5 views

The client has a spa and also sells her products to her clients.  Should she keep a record of her inventory and throughout the year and not just buy and add to the quantity without showing what us sold?

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Best answer by sjrcpa

Yes she should keep track of inventory.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Yes she should keep track of inventory.

The more I know the more I don’t know.