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Quixote1818

(28,930 posts)
Sun Mar 29, 2020, 11:57 PM Mar 2020

Did something change with the way inventory is calculated on your taxes in 2019?

In the past when I plugged in the numbers my refund hardly changed but this year with the change in inventory about the same as last year my refund went to almost zero. I didn't realize this but I guess you can just ignore inventory if you sell less than a million dollars?

I am wondering if there is a glitch in the program this year?


Snip:

Although you are not required to report inventory if your receipts are 1 million or less as a Qualifying Taxpayer, the costs for what would otherwise be inventoriable items are considered to be NON-incidental materials and supplies to be listed on line 36 (purchases on Sch C).May 31, 2019

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Did something change with the way inventory is calculated on your taxes in 2019? (Original Post) Quixote1818 Mar 2020 OP
What tax refund? maynard Mar 2020 #1

maynard

(657 posts)
1. What tax refund?
Mon Mar 30, 2020, 01:13 AM
Mar 2020

...none of my multiple medical payouts for cancer treatment counts. Nothing counts. Charitable deductions....not enough. Donations don’t count. Nothing counts! Every year I make less and less and my refund dwindles down. Tired of being a hard working American that gets screwed every time I think I should be getting ahead.

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