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January 14, 2022
Question

When filing my self employment (little online shop) why do the forms ask that inventory be the same at end of year as at the beginning? this makes no sense to me?

  • January 14, 2022
  • 1 reply
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1 reply

VolvoGirl
January 14, 2022

It probably means from the prior year.  The 12/31/2020 ending inventory should be the same as the January 1, 2021 beginning inventory.