“Inventory” is part of the Self-Employment
interview (Income> Self-Employment). It will appear after the “Identification
of your business” and “Identification of your partners (if applicable)” if you
are creating a new business.
If you have already created a business
in TurboTax Online Self-Employed, you can go straight there by choosing “Self-Employment
Summary” from under “Self-Employment” in the “Income” tab. Click “Edit” next to
your business and then click on “Income and inventory”. Click on “Skip Income”
to go to the “Inventory” section.
There you can put your amounts
paid for sub-contractors in the space for “Did you hire any Subcontracts?”.
Even though the description only mentions goods, it applies to services as
well. If you use the “Salaries, Wages and Benefits” spot under Business
Expenses, the CRA will expect you to have run a proper payroll (EI, CPP, issued
slips, etc…).
