- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I enter what I paid for products in Costs of Purchases?
For a home business, I purchased product at wholesale to sell at retail. Would these costs (what I paid for them) be included in Costs of Purchases? It says, "enter only costs incurred to make your product. Costs must be directly related to production or resale." Do I enter all of my wholesale purchases amount from the year, only the cost of the ones sold this year, or does it only apply to purchases related to actually making something (such as raw materials)? The word "make" is throwing me off.
Topics:
‎October 16, 2023
11:39 AM