Schedule C, part 3, line 35 - Is inventory the wholesale or retail value?

5 Answers

Relevance
  • Brian
    Lv 6
    1 month ago
    Best Answer

    Cost. If you get audited, the IRS wants RECEIPTS.

  • DIEGO.
    Lv 7
    1 month ago

    this is a good question!

  • 1 month ago

    Inventory is actual cost.

  • 1 month ago

    NO. Inventory is shown at the price you paid. NEITHER wholesale NOR retail are correct.

  • How do you think about the answers? You can sign in to vote the answer.
  • Eva
    Lv 7
    1 month ago

    It's what you paid for it, so wholesale.

Still have questions? Get your answers by asking now.