Rcvd 1099 stating over 5k purchased for resale but 95% was personal use or we still have inventory. How do we show this on return?

[JohnB5677]

You will need either TurboTax Self-employed or TurboTax Home & Business to complete this.

Go to Business and answer all of the Profile questions.

Then under Your ____ Business

1. Scroll down and select Inventory/Cost of Goods Sold
2. Yes I have Inventory to report
3. Yes I used cost method
4. Enter beginning and ending inventory
5. This next section will provide an area to enter the information you want to post

[robmic]

Neither of these would accommodate for our primary job, which we receive a W-2 for  correct? The other 1099 is just for a little side thing my wife signed up to get discounted beauty products & we were stunned to get the 1099 in the mail but now have to deal with it in some way.

[Carl]

If there is an amount in box 3 of that 1099-MISC or if box 9 is checked, then as far as the IRS is concerned that was a business transaction performed by a business that you own. So is there any amount in box 3 and box 9 is checked? What's the deal?