This would be reported in the section of TurboTax for Business or Self-employed titled "Business Income and Expenses (Schedule C)."Select and Edit your business return.Scroll down to Inventory and Cost of Goods Sold and Start or Revisit/UpdateYou will answer Yes to the inventory question and complete the interview.TurboTax will ask for your beginning and ending inventory and after that, the amount of purchases you made in 2017.

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Fern890

Level 1

Question

I have a business where I sell clothing online. What section of Turbo tax do I report my cost associated with buying clothing at wholesale prices from consignment stores?

Forum|Forum|7 years ago
June 6, 2019
1 reply
11 views

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TurboTax Business Windows

KittyM

Level 10

This would be reported in the section of TurboTax for Business or Self-employed titled "Business Income and Expenses (Schedule C)."

Select and Edit your business return.
Scroll down to Inventory and Cost of Goods Sold and Start or Revisit/Update
You will answer Yes to the inventory question and complete the interview.
TurboTax will ask for your beginning and ending inventory and after that, the amount of purchases you made in 2017.