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Business & farm
You will enter the total you collect from customers as your income, as indicated in @VolvoGirl's response above. You will then enter all of the sales tax you paid before the end of the year in TurboTax as tax expense.
Your tax expense could include other items such as business property tax.
TurboTax will ask for this expense in the interview. Note that TurboTax small business prepares forms 1120, 1120S and 1065 for your small business entity.
If you file only Schedule C, you will use TurboTax Home & Business (download) or TurboTax Premier (online).
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‎December 23, 2023
2:11 PM
1,012 Views