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jjpmit
New Member

Where do I enter the cost of materials used for my finished items?

On Schedule C where do I input the cost of materials used in production?
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1 Reply
JamesG1
Expert Alumni

Where do I enter the cost of materials used for my finished items?

This cost is reported as Materials and Supplies at the screen Let's get the cost of goods for your work within the Inventory / Cost of Goods Sold function.

 

In TurboTax Premier Online, report self-employment income and expenses by following these directions:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click on the drop down arrow to the right of Self-employment.
  • Click to the right of Self-employment income and expenses.
  • At the screen Your 2024 self-employed work summary, select Edit.
  • At the screen Here's your info, select Add expenses for this work.
  • Establish the Inventory expense category.
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