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I have a windows and doors business. I would like to know where I should type the windows and doors cost in the turbo tax. I don't keep the inventory.
I don't manufacture the windows and doors but I purchased the materials for the clients. When I report my tax, where should I report my cost for the materials? Are they considered as a business expenses?
Thank you!
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Get your taxes done using TurboTax
Just enter them as Supplies or on line 27a as Other Misc Expenses. Yes they are a business expense.
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Get your taxes done using TurboTax
Just enter the purchases as Supplies or Other Expenses.
For the Home & Business version
Go to Business tab- then Continue
Choose Jump to Full List -or I'll choose what I work on
Then…..
Business Income and Expenses - Click the Start or Update button
Then click EDIT by the business name and the next screen should be a list of topics,
Business Profile, Income, Inventory/Cost of Goods Sold, Expenses, Assets, and Final Details last.
Under Business Expenses, Click Start or Update by Other common business expenses
Supplies is about the 14th item down.
Other Miscellaneous Expenses is the 16th item under Expenses - Click the Start or Update button