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How do I account for inventory taken out for personal use? When I have a lower closing inventory, I get an increase in cost of goods, which I don't want in that case
martinemslie
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How do I account for inventory taken out for personal use? When I have a lower closing inventory, I get an increase in cost of goods, which I don't want in that case
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TurboTax Online Self-Employed
October 30, 2019
8:25 AM
TurboTaxKim
Level 15
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Self-employed
If you take goods for personal use, you should consider these as "sales" and add to your income.
October 30, 2019
8:25 AM
