Does "total purchase for the year" on Inventory page(as a self employed artist), include all my material expenses that I've inputted on the expenses page?

LennonM — Tue, 21 Apr 2026 14:50:44 GMT

For example: If I make jewelry and include cost of metal in my expenses, does that also count as purchase because I had to pay a casting house for it?

Re: Does "total purchase for the year" on Inventory page(as a self employed artist), include all my material expenses that I've inputted on the expenses page?

TurboTaxAniqua — Wed, 22 Apr 2026 17:29:52 GMT

No, you must not include the same costs in both sections, or you will double-count the deduction. You should enter the cost of the raw metal under "Total purchases" in the Inventory section so it can be factored into your Cost of Goods Sold. The service fee paid to the casting house for their labour should be entered as a Subcontract or Professional fees expense. Essentially, if an item is a physical component of your finished jewellery, it belongs in Inventory; if it is a service or a general supply that doesn't become the product itself, it belongs in Expenses.

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topic Re: Does "total purchase for the year" on Inventory page(as a self employed artist), include all my material expenses that I've inputted on the expenses page? in Self-employed

Does "total purchase for the year" on Inventory page(as a self employed artist), include all my material expenses that I've inputted on the expenses page?

Re: Does "total purchase for the year" on Inventory page(as a self employed artist), include all my material expenses that I've inputted on the expenses page?