RobertG
Expert Alumni

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:

  1. After you set up your Self-Employed business in TurboTax select Inventory, as one of your business expenses.
  2. When you start to enter your inventory expenses you will be asked; Do you have inventory to report.  Say Yes.
  3. You will be asked: Did you use the cost method to value inventory? Say Yes. 
  4. Next, enter the value of your beginning, (if any) and ending (if any) inventory.
  5. You then enter the cost of your purchases,  (ticket cost and sales fees), during the year.
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