topic Home Repair Business Materials in Deductions & credits

Home Repair Business Materials

FrostJ — Tue, 17 Dec 2019 18:45:43 GMT

Do materials used in the repair of customers homes get listed under expenses>supplies or another category?

Re: Home Repair Business Materials

VolvoGirl — Tue, 17 Dec 2019 18:47:27 GMT

Yes Supplies is a good spot for materials. Or under Other Misc expenses.

Re: Home Repair Business Materials

Carl — Wed, 18 Dec 2019 02:12:20 GMT

Assuming you are self-employed as a handyman or something and you report your business income/expenses on SCH C as a part of your personal 1040 tax return, it really doesn't matter if you call them "supplies" or "expenses" the deduction is the same. But since you're talking about something that you can physically touch and hold, I would list your materials as supplies since that is "in fact" what they are. (You can't complete the job without them, right?)