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I am completing my self-employed form (on-line sales on ebay), do I enter the costs for the items that I bought on an auction to sell on ebay under supplies or inventory?

 
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ColeenD3
Expert Alumni

I am completing my self-employed form (on-line sales on ebay), do I enter the costs for the items that I bought on an auction to sell on ebay under supplies or inventory?

It is under inventory.

 

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MinhT1
Expert Alumni

I am completing my self-employed form (on-line sales on ebay), do I enter the costs for the items that I bought on an auction to sell on ebay under supplies or inventory?

Articles bought for resale have to be entered as Purchases and counted as Inventory at year end.

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I am completing my self-employed form (on-line sales on ebay), do I enter the costs for the items that I bought on an auction to sell on ebay under supplies or inventory?

That is what I figured but I don't see "purchases" under expenses.  Where is it located?

ColeenD3
Expert Alumni

I am completing my self-employed form (on-line sales on ebay), do I enter the costs for the items that I bought on an auction to sell on ebay under supplies or inventory?

It is under inventory.

 

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