https://ttlc.intuit.com/community/taxes/discussion/re-schedule-c-part-1/01/1987767#M715852 <P>You want to enter your gross profit.&nbsp; The $8000 will show as income and expenses will show as $4000, to get a net profit of $4000.</P> Thu, 25 Feb 2021 16:16:34 GMT CatinaT1 2021-02-25T16:16:34Z https://ttlc.intuit.com/community/taxes/discussion/schedule-c-part-1/01/1987655#M715801 <P>&nbsp;I have been operating an online clothing store (single member LLC). I am filing my taxes &nbsp;using the cash method. I have yet to make a profit (after shipping costs and advertising are deducted). For Part 1 of schedule C, do I enter my sales profit (after subtracting the cost of my merchandise) or should I be entering my total sales before the cost of the merchandise is deducted. For example, if I have made $8000 in sales but after the cost of merchandise is subtracted my profit is $4000. Which number would I enter into Part 1 of the schedule c? Hope my question isn't too confusing. Thank you for your help!</P> Thu, 25 Feb 2021 16:00:45 GMT https://ttlc.intuit.com/community/taxes/discussion/schedule-c-part-1/01/1987655#M715801 EM615 2021-02-25T16:00:45Z https://ttlc.intuit.com/community/taxes/discussion/re-schedule-c-part-1/01/1987767#M715852 <P>You want to enter your gross profit.&nbsp; The $8000 will show as income and expenses will show as $4000, to get a net profit of $4000.</P> Thu, 25 Feb 2021 16:16:34 GMT https://ttlc.intuit.com/community/taxes/discussion/re-schedule-c-part-1/01/1987767#M715852 CatinaT1 2021-02-25T16:16:34Z