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brett-van-sanders
February 5, 2025
Question

Where to report cost of goods sold?

  • February 5, 2025
  • 1 reply
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Cost of Goods Sold

    1 reply

    SharonD007
    SharonD007
    February 5, 2025

    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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