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January 15, 2024
Question

Freelance Videographer/Video Editor

  • January 15, 2024
  • 1 reply
  • 0 views

Just purchased Turbo Tax Home & Business since my taxes got a bit jumbled across my part time job and my freelance work.

 

I noticed among the inventory tab, Turbo Tax mentioned that those who work in motion pictures/video production often have inventory to report. What would be considered inventory in this case?

 

Best,

Andy

1 reply

Employee
January 16, 2024

The term inventory refers to the raw materials used in production as well as the goods produced that are available for sale.  For example, the supply of tapes that you shoot and the supply of tapes that you have duplicated for sale.