This would be reported in the section of TurboTax for Business or Self-employed titled "Business Income and Expenses (Schedule C)."
- Select and Edit your business return.
- Scroll down to Inventory and Cost of Goods Sold and Start or Revisit/Update
- You will answer Yes to the inventory question and complete the interview.
- TurboTax will ask for your beginning and ending inventory and after that, the amount of purchases you made in 2017.
