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New Member
posted Dec 28, 2021 1:57:40 PM

Construction Materials Deduction

So for example I give my client a price that includes materials such as paint. I go out to HomeDepot and purchase the paint with the money they give me. How would I deduct the materials for the job or are they not tax deductible? In quick books self employed

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2 Replies
Level 15
Dec 28, 2021 3:01:12 PM

On Sch C report the money they give you as income and then deduct the expenses on the same form as supplies. 

Level 15
Dec 28, 2021 3:09:01 PM

In the quickbooks system you will report all the income on the invoice you issued  and the paint purchase is an expense.  You should have accounts for income and expenses along with the bank account set up properly ... if you don't then seek assistance to do so... I think that QB has advisors.