Yes you would. COGS is not an "expense" however, it does reduce your profit. Look at the form. It is only Line 4 and is counted against Gross receipts to arrive at Gross Income. <a rel="nofollow" target="_blank" href="
https://www.irs.gov/pub/irs-pdf/f1040sc.pdf">https://www.irs.gov/pub/irs-pdf/f1040sc.pdf</a>
