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I'm a self-published author who sells books through consignment at a bookstore. The bookstore charges a shelf fee and a set up fee. Where do I list this as an expense?
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June 1, 2019
12:19 AM
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Get your taxes done using TurboTax
You can enter both of those fees as an Commission and Fees on Line 10 of your Schedule C (provided you are filing your business as a Sole Proprietor).
Follow the path
below to enter these expenses into Turbo Tax...
- Click on the Business tab
- Click on Business Income & Expenses tab
- Click the I'll Choose What I Work On button
- Under the Business Income & Expenses heading, click the Profit or Loss from Business start/update button
- If have previously set-up your business profile, the next screen will be an option to edit or delete your business (see 1st screenshot below)
- If you have not previously set-up your business in Turbo Tax then the screens will guide you through the actual process of setting up your business in Turbo Tax
- This is where you enter your specific expenses for the fees you mentioned.
June 1, 2019
12:19 AM