Qualified railroad track maintenance credit (Form 8900).
In this case , you have no inventory and thus no cost of goods sold deduction.
Single member LLC: You will file a Schedule C form with your personal tax return ... cost method, as it's the easiest to keep track of with smaller inventories.
Schedule C form is used to report taxes annually for your yearly income.
Beginning with the 2019 tax year, Schedule C-EZ is no longer available
The IRS requires sole proprietors to file a Schedule C, Profit or Loss
This bonus "expensing" should not be confused with expensing under Code
E. Method(s) used to value closing inventory.
By the way, if you need a simple way to track your inventory and cost of goods sold,
We do NOT track inventory (as in how much material is used, when it is used, and how