Maybe I misunderstand the numbers. $5,055 in inventory purchases less cost of goods sold of $2,156 results in ending inventory of $2,899.
Try entering the following in TurboTax Online Self-Employed, to report $2,156 in cost of sales for your self-employment activity,
- Click Yes at the screen Do you have inventory to report.
- Enter $0 for beginning inventory at the screen Let's get the value of your inventory.
- Enter $2,899 for ending inventory at the screen Let's get the value of your inventory.
- Enter $5,055 for Cost of Purchases at the screen Let's get the costs of your goods.
At the screen OK, Here is your business gross profit, do you see a report of cost of goods sold of 2,156?
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