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Yes, you will enter the amount earned from the sales as income. Most individuals are on a cash-basis when reporting income so you will report the income when it was received. You will also be able to claim a deduction for various business expenses related this income.
Please refer to this IRS link for more information about business expenses:
https://www.irs.gov/publications/p334/ch08.html#en_US_2014_publink1000313521
To enter your business income and expense using TurboTax SE Online (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") or TurboTax Home and Business Desktop, please follow these steps:
Yes, you will enter the amount earned from the sales as income. Most individuals are on a cash-basis when reporting income so you will report the income when it was received. You will also be able to claim a deduction for various business expenses related this income.
Please refer to this IRS link for more information about business expenses:
https://www.irs.gov/publications/p334/ch08.html#en_US_2014_publink1000313521
To enter your business income and expense using TurboTax SE Online (for TurboTax Online sign-in, click Here , then select "Take Me to My Return") or TurboTax Home and Business Desktop, please follow these steps:
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