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candytraning-
New Member

Where do I enter the inventory method for COGS?

 
1 Best answer

Accepted Solutions
GiseleD
Expert Alumni

Where do I enter the inventory method for COGS?

Under Income & Expenses (tab at the top of your screen), click Review next to Self-employment income and expenses (this assumes that you have already entered your self-employed income).

  1. Click Review again next to the specific self-employed activity and scroll down to the Expenses category.
  2. Click Add expenses for this work.
  3. A list of expenses will pop up. Click the button next to Inventory and click Continue.
  4. Proceed through the inventory interview questions to enter details about your inventory.
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2 Replies
GiseleD
Expert Alumni

Where do I enter the inventory method for COGS?

Under Income & Expenses (tab at the top of your screen), click Review next to Self-employment income and expenses (this assumes that you have already entered your self-employed income).

  1. Click Review again next to the specific self-employed activity and scroll down to the Expenses category.
  2. Click Add expenses for this work.
  3. A list of expenses will pop up. Click the button next to Inventory and click Continue.
  4. Proceed through the inventory interview questions to enter details about your inventory.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Carl
Level 15

Where do I enter the inventory method for COGS?

Take special note that in the business profile section you *MUST* select the option to indicate that your business *DOES* carry inventory. If you don't select that option, the program will never ask you about inventory.

 

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