Question

Construction Materials Deduction

Forum|Forum|4 years ago
December 28, 2021
1 reply
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So for example I give my client a price that includes materials such as paint. I go out to HomeDepot and purchase the paint with the money they give me. How would I deduct the materials for the job or are they not tax deductible? In quick books self employed

TurboTax Self Employed Online

B

Bsch4477

Employee

On Sch C report the money they give you as income and then deduct the expenses on the same form as supplies.

Critter-3

In the quickbooks system you will report all the income on the invoice you issued and the paint purchase is an expense. You should have accounts for income and expenses along with the bank account set up properly ... if you don't then seek assistance to do so... I think that QB has advisors.