Hello,
I consulted both a fiscalist and an accountant for this. Basically, my self-imployed inventory isn't taxable for the year 2021. It will be when it is sold next year. Right now, it is an expense.
Example: 1 000 000 in revenue
50 000 in profits
100 000 in inventory (counting as an expense)
Expenses for the year (including inventory): 950 000
However, when I enter my inventory amount in ''self-employed income'', it shows it will be taxed (in the summary). So it shows a (example using a 50% tax rate for simplicity) of 75 000 (50 000$ of inventory and 25 000 for profits) instead of 25 000 (just for profits).
How can I declare my inventory without TurboTax deciding it needs to be taxed?
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