I am using Turbotax Premium. I don't see where to add my COGs. The AI bot says I can add it to 'Supplies' but I only see 'office expenses' not supplies. Where is it?

Forum|Forum|1 year ago
February 9, 2025
1 reply
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In office expenses there is an 'Office Supplies' but from my accounting classes there is a difference between Office Supplies and Supplies. I only see sections for advertising, meals, legal and professional fees, meals, office expenses, Communications, business travel, startup costs, assets, building or land rental and business insurance.

SharonD007

Cost of Goods Sold (which is inventory at the beginning of the year + purchases during the year - inventory at the end of the year) is reported on your Schedule C as an expense. For instructions, refer to the TurboTax Help article Do I need to report inventory?

Review the TurboTax article Reporting Self-Employment Business Income and Deductions for additional information.

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