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Item 38 - Opening stock (partnership return)

Label C - Opening stock

Click this link for information on Item 38 Opening stock on the ATO website.

A generic schedule is provided at this item for dissection and record keeping purposes.

The amount at label C must reflect an amount calculated for tax purposes.

CCH References

9-150 What is Trading Stock?

9-160 Calculating Trading Stock Gross Profit

9-170 Trading Stock on Hand Taken into Account

9-180 How to Value Trading Stock

9-250 Valuation of Live Stock

9-290 Stock Disposed of Outside Ordinary Course of Business

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