Question

how do i report Cost of Goods Sold

Forum|Forum|1 year ago
March 3, 2025
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You can find Cost of Goods Sold in the Inventory Expense Account in the Self-Employment Income and Expenses section. You probably are not required to keep inventory for your business, but you can still use the Inventory Account to report your purchases if you choose to.

Reporting Inventory in TurboTax

In the desktop software, there is a separate section for Cost of Goods Sold. And in TurboTax Online, you have to add the Inventory Expense to your list of expenses. It will be in the Less Common Expenses. Self-Employment Expenses

Desktop