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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.
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‎February 2, 2023
5:22 AM
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