ThomasM125
Employee Tax Expert

Get your taxes done using TurboTax

You would enter the ticket purchases in the Inventory and Cost of Goods Sold section of your business entries. Indicate that you have inventory to report, and enter the cost of tickets purchased and the beginning and ending inventory of tickets at cost. TurboTax will determine your cost of tickets sold based on these entries. The losses on tickets would be reflected in the cost of your ending inventory. 

 

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