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Level 2
posted Mar 2, 2022 3:35:07 PM

Can I add fabric to my supply expenses?

I work with fabric for my small business and would like to know how I'm able to add that to my expenses?

0 4 1117
4 Replies
Expert Alumni
Mar 2, 2022 3:47:36 PM

Yes, if fabric is used as a supply in your business you can deduct it as an expense. To enter your fabric as a supply select the following:

  • Federal
  • Income and Expenses
  • Edit next to your business
  • Add Expenses 
  • Scroll down and click show more until you see Supplies and click Add Expense

 

@sarajbedford

Level 2
Mar 2, 2022 3:58:12 PM

Because I buy it monthly, do I add the amount I spent that month??

Level 15
Mar 2, 2022 4:10:24 PM

You are filing an ANNUAL tax return so all amounts entered in each category should be the ANNUAL total. 

Expert Alumni
Mar 2, 2022 4:14:03 PM

Yes, you will add the amounts you spent every month and enter it as one lump sum.