Solved
For Direct sales Business Income, do I report the RETAIL sales or do I report the sales at what it cost me (Wholesale)?
Total sales at retail were $1672.20. Wholesale, it was $1052.04
You report the income that you received from the sale which is usually the retail amount.
The amount you paid for the products is entered under Cost of Goods Sold.
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
