Get your taxes done using TurboTax
In TurboTax Online, follow these steps:
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Click the down arrow to the right of Self-Employment.
- Click to the right of Self-employment income and expenses.
- If you have not established a self-employment activity, the activity should be created.
- After the self-employment activity has been established, click Edit or click the pencil to the right of the activity at the screen Your 2024 self-employed work summary.
- Click the pencil to the right of Inventory.
- If you do not have an Inventory, select Add expenses for this work. Then enter 'inventory' in the Search for expense categories.
- At the screen Do you have inventory?, select Yes. Continue.
- At the screen Do you use the cost method?, select Yes. Continue.
- At the screen Let's get the value of inventory, enter beginning and ending inventory. Continue.
- Purchases Withdrawn for Personal Use may be found at the screen Let's get the cost of goods for your work.
