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Can "Freight out" be a part of Cost Of Goods Sold and not an expense?

Forum|Forum|3 years ago
January 21, 2023
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I have seen conflicting information. If it is an expense, and not a part of "cost of goods sold", where is it included on form 1065. We are a multi-member LLC taxed as a partnership.

Best answer by Anonymous_

Freight-in is typically included in the Cost of Goods Sold while freight-out is typically an expense (which can be included as Other deductions on Line 20).

A

Anonymous_Answer

Employee

Freight-in is typically included in the Cost of Goods Sold while freight-out is typically an expense (which can be included as Other deductions on Line 20).