I work a chocolate company and the majority of my sales is through shows. After the shows the chocolate is only good for so long and I have to eventually toss some out. This being my first year in business I had to toss out alot. Where can I account for those losses in Turboxtax.
Someone told me I couldn't but that doesn't really make sense as its lost product. Would it be under doubtful account? Or inventory "other costs".
Thank you that is what I figured! I went onto the "expert" call within Turbo Tax and the guy said I couldn't claim it which didn't seem right to me. He didn't seem to know what he was talking about.
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