Question
Construction Materials for General Contractor
As a new custom home builder, I am unsure where to claim my expenses for what most refer to as COGS in TurboTax. The materials are not inventory items as they are purchased and sent directly to the project site. I understand from some searching online that if I was doing the paperwork (IRS forms) by hand I would place these items under Line 38, Part 3 (COGS) of Schedule C Proffit & Loss from Business.
I have all other business expenses allotted for in TurboTax including all subcontractors, etc. but not sure where to place COGS since I do not maintain an inventory.
Help, please.
