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Schedule C part III question
On both turbo tax and free tax USA I am noticing the same thing. This is my first time filing taxes, and I started my business in 2022 as an SMLLC. I sold on Etsy and Smugmug- a photo-selling platform. I am using the cash method, and in part II, line 22, I have my supply cost listed along with De Minimis Safe Harbor Election. I made about $5800 this year with my business. After filling everything out, my Part III Cost of Goods Sold is blank. Do I not need to worry about listing anything, such as inventory or Materials and supplies?
Thank you for the help again.
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ā€ˇFebruary 12, 2023
12:53 PM