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New Member
posted Aug 12, 2023 1:02:53 PM

When I report income from product sales, do I subtract the wholesale cost of the items or is there another area I will enter my expense for the items I resold?

I am a personal trainer and purchase health products/supplements wholesale in order to sell to my clients. I'm unsure of how to report my income from the products considering I only make a small amount of money per item sold and spend a significant amount initially on my wholesale purchase before reselling.

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1 Replies
Level 15
Aug 12, 2023 3:13:22 PM

When you sell the product report the sale as income and deduct what you paid for it as an expense—“supplies “.