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Business & farm
Yes, the steps you outline above should take care of the COGS situation going into 2023. When you are entering the 2023 data, there should be a prompt in the Inventory section that you do not carry inventory and it should remove any entry or message pertaining to the COGS section.
In the future, for any materials you purchase just list them as Materials and Supplies in the expense section of your Schedule C entries.
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‎February 9, 2023
9:24 AM