Buying oils and kits for testing so I can let people know what works. I wondered where I might deduct those expenses. Also, in order to receive income we must order a certain amount of oils each month, would this expense be deductible?
Yes, the expenses can be deducted. However, how they are deducted will depend on how your business is characterized.Below is information for entering income as self-employment income (Form Schedule C) or hobby income.
In TurboTax Deluxe, Premier, go to Federal Taxes or In Home and Business, go to Business tab- then Continue
To enter as Hobby Income, please follow the instructions below:
For assistance in determining if you should enter your information as a business or hobby, please see the IRS Publication on Business or Hobby.