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Business & farm
Good answer by Critter-3.
I recommend that you report the ticket cost and sales fees as cost of goods sold.
To report your Cost of Goods Sold in TurboTax:
- After you set up your Self-Employed business in TurboTax select Inventory, as one of your business expenses.
- When you start to enter your inventory expenses you will be asked; Do you have inventory to report. Say Yes.
- You will be asked: Did you use the cost method to value inventory? Say Yes.
- Next, enter the value of your beginning, (if any) and ending (if any) inventory.
- You then enter the cost of your purchases, (ticket cost and sales fees), during the year.
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‎June 30, 2020
10:23 AM