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April 15, 2025
Question

Where do I enter the cost of materials used for my finished items?

  • April 15, 2025
  • 1 reply
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On Schedule C where do I input the cost of materials used in production?

    1 reply

    April 15, 2025

    This cost is reported as Materials and Supplies at the screen Let's get the cost of goods for your work within the Inventory / Cost of Goods Sold function.

     

    In TurboTax Premier Online, report self-employment income and expenses by following these directions:

     

    • Down the left side of the screen, click Federal.
    • Down the left side of the screen, click Wages & Income.
    • Click on the drop down arrow to the right of Self-employment.
    • Click to the right of Self-employment income and expenses.
    • At the screen Your 2024 self-employed work summary, select Edit.
    • At the screen Here's your info, select Add expenses for this work.
    • Establish the Inventory expense category.
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