You'll need to sign in or create an account to connect with an expert.
Goods returned are subtracted from the category those goods were reported in the first place. If those goods were for resale and you enter them as Purchases then the return is subtracted from Purchases. If they were Supplies then returns are subtracted from Supplies.
Miscellaneous bank credits can be reported as Other business income.
Goods returned are subtracted from the category those goods were reported in the first place. If those goods were for resale and you enter them as Purchases then the return is subtracted from Purchases. If they were Supplies then returns are subtracted from Supplies.
Miscellaneous bank credits can be reported as Other business income.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
huntinad
Level 1
schnelle
New Member
Fuzzy Red Baron
Returning Member
malvinchip
Level 1
Irasaco
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.