Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Federal input screens

Screen DISC A - Cost of Goods Sold (1120)

Cost of Goods Sold

If this field is blank, the application transfers the beginning inventory from Schedule L.
Enter 100 percent of the expense for meals included in the cost of goods sold. The application automatically reduces this amount to 50 percent when calculating Section 263A costs, and also generates a Schedule M-1 adjustment for the reduction.
Use this field to allocate a portion of the Schedule E depreciation to Schedule A. The application multiplies the percentage that you enter by all depreciation coded as Page 1 in the
Form
 field in the 4562 Screen.
Use this field to allocate a specific dollar amount of the Schedule E depreciation to Schedule A
If this field is blank, the application transfers the ending inventory from Schedule L.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close