Tax Issues for U.S. Residents and Foreign Nationals

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Subject:		tax treatment of obsolete inventory
Name:		john
Date Posted:		May 26, 08 - 6:47 PM
Email:		jmservices@juno.com
Message:		Working with a client who has a Direct Seller business- maintains inventory, but this year has obsolete inventory- 1) How is the obsolete inventory reported on the Sch C if the client decides to continue to maintain the obsolete inventory? 2) How is the obsolete inventory handled if the client disposes of the inventory? Also- can you recommend a good reference for this topic? [Thanks in advance for your assistance]

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