Cost of good sold is a calculated field. You must enter your starting inventory, your purchases and cost, and your ending inventory to calculate cost of goods sold.
Please see the instructions below for adding your inventory:
- On the Tax Timeline, select "Business".
- Click continue then select "I'll choose what I work on".
- Click update/start next to "Business Income and Expenses".
- Select "Edit" next to your business name (or add your business information here if you haven't already).
- Scroll down to "Inventory / Cost of Goods Sold" and click "Start" to begin entering your inventory.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
