Where do I put my inventory purchases for my business I started in 2016?

derlein932 — Sat, 01 Jun 2019 06:51:25 GMT

Inventory purchases are in a section of Schedule C called...

MichaelDC — Sat, 01 Jun 2019 06:51:27 GMT

Inventory purchases are in a section of Schedule C called "Cost of Goods Sold".

Please follow the instructions below to enter cost of goods sold:

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