Confusion with Schedule C and shipping charges

[gtmylan]

This is crazy but here goes. I have very few sales that amount to less than $4000. I drop ship and pay shipping charges to my supplier - I do not charge my customers shipping. 

I have entered all my figures and the shipping cost of $512 under Business Expenses Not Yet Reported  but when all is said and done, TT says I have exactly $512 more in net income. Should I be adding that $512 to the cost of goods sold? 

Am totally confused -

[SusanY1]

If you entered it from a form such as 1099-NEC or 1099-K you may still need to "link" the income with the Schedule C for the income to populate on that form. You can do this by returning to the section where you entered the income (which is under Wages & Income, then Other Common Income).  Select Edit beside the type of income entered and then walk back through the section for the option to link to your Schedule C or create a new one.  

 

[gtmylan]

No - it was not 1099-NEC or 1099-K - I simply entered the income on Schedule C where it asked for this figure. Any other suggestions would be greatly appreciated!

[AnnetteB6]

This is a long-shot, but did you enter the shipping expense as a negative number?  If so, the end result would be to add it to your income instead of subtract it.  

@gtmylan 

[gtmylan]

No - no minus sign in front of the figure - good thought though. 

[DianeW777]

My suggestion would be to remove the figure all together and enter it under a different expense category such as supplies or other miscellaneous expenses.  Be sure to use the delete key when you are in the field where your entry is currently.

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: 

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We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution. 

[gtmylan]

Well - I opened forms for Schedule C (having removed the $512 from Other Expenses) and put that amount in under Other Costs and lo and behold, it works!  The only way I can see doing this is to open the forms because there is no place I can find where it lists "Other Costs".

And I have also noticed a red exclamation point indicating C=Schedule C is not done - but it is! Why now should this appear? 

If it's not one thing, it's another!!

[PatriciaV]

There have been recent developments that required additional updates to a related form. The revised Form 3800, General Business Credit, is estimated to be released on March 6, 2024. Because updates are released after business hours Pacific time, we recommend you wait to update your software the next day, then run Review again.

@gtmylan 

[gtmylan]

I have never filed a 3800 in past years and I did check it out but don't think I need to file that form for such a small amount of a deduction. Will check it again tomorrow after it is updated.