I sell auto parts on ebay. Where do i enter the cost of the parts on my return?

ggomezjr3 — Mon, 03 Jun 2019 18:37:53 GMT

Materials and goods purchased for resale are entered in t...

NancyG — Mon, 03 Jun 2019 18:37:54 GMT

Materials and goods purchased for resale are entered in the cost of goods sold section of Schedule C, Part III.

To enter cost of goods sold follow the instructions below:

1. Log in to TurboTax.

2. On the left side of your screen, click the "Business" tab.

3. Click the "Business Income & Expenses" sub-tab that appears below the "Business" tab.

4. Click the blue "I'll choose what I work on" button on the right.

5. Click the blue "Update" button in the "Business Income & Expenses" section at the top.

6. Click "Edit" next to the business you need to enter this information for.

7. Scroll down to the Inventory/Cost of Goods Sold section

8. Click "Update" next to Inventory and Cost of Goods Sold