I bought $30K worth of computer hardware for a not-for-profit and sold it to them at cost.
Retail isn't something my business normally does, so I'm not sure how to put this in.
I'm recording the expense under "Enter your miscellaneous expenses," but I'm coming out backward on this deal when I input the $30K income from the 1099-NEC that the not-for-profit sent to me.
What is the correct way to input this income and expense? It should be a total wash, no?
I'm using Turbotax Premium, for some reason that's not a choice in the "choose the edition" selection as I make this post.
