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Level 2
posted Mar 22, 2022 10:56:00 AM

Inventory Reporting on Schedule C

I am trying to enter the the cost of my Inventory on Turbo Tax Schedule C on TurboTax. I enter the COG (see first photo) then I go to the next screen and it doesn't show that I entered any inventory? What's happening?

 

 

 

 

 

 

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1 Best answer
Level 15
Mar 22, 2022 11:56:37 AM

First, enter your beginning and ending inventory and add any purchases you made during the tax year.

 

The COGS figure is calculated; you do not enter it.

2 Replies
Level 15
Mar 22, 2022 11:56:37 AM

First, enter your beginning and ending inventory and add any purchases you made during the tax year.

 

The COGS figure is calculated; you do not enter it.

Level 2
Mar 22, 2022 11:57:55 AM

Thank you.