Yes, you can account for the cost of the items you sold, along with expenses of sale, such as packaging materials, shipping costs, travel to the post office, a portion of your internet bill, etc.
- Type sch c in Search (magnifying glass) in the top right
- Tap Jump to sch c
- Complete the info screen
- TurboTax will show you a list of recommended expenses based on your type of business
- If you don’t see Inventory, tap Less Common Items and keep paging through until you find Inventory, then Continue
- Start Inventory
- If you sell the same types of items, enter the value of your beginning and ending inventory.
- Otherwise, skip and go to “Let’s get the cost of goods for your [business] work"
- Enter your products under Cost of Purchases
- Enter Materials and Supplies and Other Costs to Prepare for Sales, if applicable
- Enter your other expenses in the appropriate categories
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