Re: Self employed. Do I add tax or just retail cost of items under miscellaneous expenses. I bought a miter saw for $219 do I add in tax in the amount column?

Self employed. Do I add tax or just retail cost of items under miscellaneous expenses. I bought a miter saw for $219 do I add in tax in the amount column?

posted

add the sales tax to the cost of the saw. this is no different than any other business expense you paid which you are deductiong on schedule C. you cannot take a dedcution for the sales tax yyou paid on it in on schedule A.