New Member

posted Jan 14, 2025 12:40:03 PM

Which expense category should I use for "cost of goods sold" expenses on a 1099-K form?

I am a small business owner and a majority of my expenses are "cost of goods sold" but there's no expense category provided by TurboTax.

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Level 15

Jan 14, 2025 12:47:18 PM

To enter Cost of goods sold use the Inventory section

https://ttlc.intuit.com/turbotax-support/en-us/help-article/business-tax-credits-deductions/need-report-inventory/L3JwjUlQm_US_en_US

1 Replies

Level 15

Jan 14, 2025 12:47:18 PM

To enter Cost of goods sold use the Inventory section

https://ttlc.intuit.com/turbotax-support/en-us/help-article/business-tax-credits-deductions/need-report-inventory/L3JwjUlQm_US_en_US