Unfortunately, no. Your situation is the very definition of inventory.
Start with zero inventory and enter the dollar amount of purchases for the year less any taken for your own personal use. Enter the inventory you have left at the end of the year. The difference is the cost of goods sold and will be counted against your gross receipts to determine your profit.
Follow the
instructions below to enter "Cost of Goods Sold":
1. Click on the Business tab and then click on the
blue Continue button.
2. That will take
you a screen that asks How do you want to
work on your business income? Select I'll choose what I work on.
3. On the Let's gather your business info screen
you'll see Business Income and Expenses.
Click on either Update or Start, to the right.
4. The next screen
will be Here's the business info we have so
far. If you have been here before you can just select Edit.
5. On the next
screen Inventory/Cost of Goods Sold is
the third one down. Select Update.
(See the attached
screenshots below. Click to enlarge.)
