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February 11, 2023
Question

Business expense right off

  • February 11, 2023
  • 1 reply
  • 0 views

Hello,

I am a single-member LLC that started in 2022. I do not have inventory or cost of goods sold. I bought calendars from a bulk print and had them shipped to me. I then sold all of them on my Etsy website in 2022. Do I put the printing cost of the calendars under the supplies right off under schedule C? And can I include taxes and shipping for those supplies under the supplies right off as well, or would that be put under Miscellaneous Expenses? Thank you

1 reply

February 11, 2023

You can enter the total costs (taxes and shipping) as supplies, just be sure to keep good records of the totals expenditures if they are not all on the same invoice.