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andyloof
New Member

I'm a self-published author who sells books through consignment at a bookstore. The bookstore charges a shelf fee and a set up fee. Where do I list this as an expense?

 
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1 Best answer

Accepted Solutions
PeterM
New Member

I'm a self-published author who sells books through consignment at a bookstore. The bookstore charges a shelf fee and a set up fee. Where do I list this as an expense?

You can enter both of those fees as an Commission and Fees on Line 10 of your Schedule C (provided you are filing your business as a Sole Proprietor).

Follow the path below to enter these expenses into Turbo Tax...

  1. Click on the Business tab
  2. Click on Business Income & Expenses tab
  3. Click the I'll Choose What I Work On button
  4. Under the Business Income & Expenses heading, click the Profit or Loss from Business start/update button
  • If have previously set-up your business profile, the next screen will be an option to edit or delete your business (see 1st screenshot below)
  • If you have not previously set-up your business in Turbo Tax then the screens will guide you through the actual process of setting up your business in Turbo Tax
  • At the conclusion of step 4, you will be on the screen to choose what expense item you wish to work on (see 2nd screenshot below). Under the Business Expenses heading, click the Other Common Business Expenses start button.
  • The following screen has a list of expenses, click the Commissions start button (see 3rd screenshot below).
    • This is where you enter your specific expenses for the fees you mentioned.

    View solution in original post

    1 Reply
    PeterM
    New Member

    I'm a self-published author who sells books through consignment at a bookstore. The bookstore charges a shelf fee and a set up fee. Where do I list this as an expense?

    You can enter both of those fees as an Commission and Fees on Line 10 of your Schedule C (provided you are filing your business as a Sole Proprietor).

    Follow the path below to enter these expenses into Turbo Tax...

    1. Click on the Business tab
    2. Click on Business Income & Expenses tab
    3. Click the I'll Choose What I Work On button
    4. Under the Business Income & Expenses heading, click the Profit or Loss from Business start/update button
    • If have previously set-up your business profile, the next screen will be an option to edit or delete your business (see 1st screenshot below)
    • If you have not previously set-up your business in Turbo Tax then the screens will guide you through the actual process of setting up your business in Turbo Tax
  • At the conclusion of step 4, you will be on the screen to choose what expense item you wish to work on (see 2nd screenshot below). Under the Business Expenses heading, click the Other Common Business Expenses start button.
  • The following screen has a list of expenses, click the Commissions start button (see 3rd screenshot below).
    • This is where you enter your specific expenses for the fees you mentioned.
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