JamesG1
Expert Alumni

Get your taxes done using TurboTax

I would report "Costs to purchase or fix up the items sold" within the Inventory expense code.  See this list of expenses available in Self-employed.

 

Click to the left of the Inventory code to add the expense to your self-employment activity.

 

In TurboTax Online Self-employed,

 

  • Go to Federal / Income & Expenses / Here's your info / Self-employment income and expenses.
  • Click Edit on your self-employment activity.
  • Scroll down to Inventory or Add expenses for this work and select Inventory.

At a minimum, you should be entering beginning inventory, ending inventory and cost of purchases.

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"