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Question

I entered my gross cash and credit in my retail store. cant figure out next where my cost of inventory that I purchased goes. Like sodas beer and even my electric bills

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TurboTax Self Employed Online

Employee Tax Expert

Employee Tax Expert

While you are in the Schedule C section for your business income and expenses, look for Inventory in the expense category. That is where you will account for the items that you purchased for sale, such as the soda and beer.

Your electric bills would be claimed in the Utilities expense section.

Keep in mind you may need to click on Common Expenses or Less Common Expenses to get the sections to expand so that you can see all the categories.

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