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2021 taxes

maui doug
Level 3

My tax client has a cigar internet business - he sells Nicaragua cigars on the internet that he buys from

his son's factory in Nicaragua.  Because his cost of goods is from a foreign country do I need to fill out

a IRS form reflecting these purchases?

0 Cheers
1 Comment 1
Jim-from-Ohio
Level 11

No.. it is common to buy from other countries, typical cost of goods sold.