Yes, you will enter this as a business and if you a single member LLC, you can use a 1040 Schedule C. Here is how to report if you are using Turbo tax Self-Employed.
- Go to federal>income and expenses>
- Self-Employment>Self-employment income and expenses
- Complete the profile that asks about your business. Here you will enter information about your LLC and the EIN for your business.
- Then there will be a screen where you will enter your self-employment income.
- After entering, you will start entering expenses into your program.
- If you wish to enter the cost of your purchases, you need to navigate to the inventory section of the program. These don't appear immediately in expenses so you will need to select show more at the bottom of the screen until you see the term inventory. You will need to complete this section to determine the cost of goods sold.
- Your amazon fees can be listed under legal and professional fees.
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