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J
jbzimmerman25
November 17, 2024
Question

Is there a tax credit or deduction for expired inventory? I am a direct seller of skincare and cosmetics.

  • November 17, 2024
  • 2 replies
  • 0 views
I have unsold expired inventory on my shelf that I purchased between 2019 and 2021. Is it treated differently from unexpired (saleable) inventory?

    2 replies

    O
    Opus 17
    Employee
    November 18, 2024

    Assuming you took an expense deduction when you bought the inventory, your cost basis is zero and there is nothing further to deduct if you just throw it away.  Your tax "reduction" is the fact that you don't get any income from the product, so you don't pay taxes on that product.  

    A
    Anonymous_
    Employee
    November 18, 2024
    No text available
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