You will need to enter Form 1099-K and file a schedule C for your business. You will enter the chemicals that are used as supplies or the cost of goods sold. You are not able to deduct your own labor. Other expenses could include office expenses such as internet access, paper, and ink. You may have vehicle expenses including mileage. If you use an area of the home for the business exclusively, you can include a home office expense.
To enter this in TurboTax as a schedule C
- Type 'schedule c' in the Search area,
- Then click on 'Jump to schedule c' to make your entries.
This TurboTax Help article has more information about Schedule C expenses.
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