Where do I enter inventory purchased in 2024 for online digital sales?

[4thehills]

My purchases for 2024 were more than my sales from 1099K. I am not sure were to put the inventory purchases.

[MindyB]

Here is how:

1. Once you have navigated to your business (Federal > Wages & Income > Self-employment income and expenses), choose "Add expenses for this work"

2.  Go to "Less Common" and page until you get to "Inventory"

3. Choose the pencil to the right of inventory and say "Yes, I have inventory to report"

4.  Answer the questions about your inventory,