I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

ricketts-sarah · ‎January 5, 2022

Bsch4477 · ‎January 5, 2022

Read the discussion here:

https://www.google.com/amp/s/ttlc.intuit.com/community/taxes/discussion/where-do-i-report-income-fro...

MaryK4 · ‎January 5, 2022

If you are a small business, you can report these costs in the inventory section as COGS or in the expenses section as Supplies. Either way, you don't have to report inventory but you do need to carefully track what you paid for the products, materials, and supplies that go into your inventory.

See Do I need to report inventory?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

Do you have an Intuit account?

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

I buy and resell items on online platforms. Where do I put the cost of the items that I sold?

Unlock tailored help options in your account.

Get more help

Related Content