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New Member
posted Jan 24, 2024 11:22:43 AM

As a carpanter, you acquire material for purchases, where do we put the purchase amount?

0 6 694
6 Replies
Moderator
Jan 24, 2024 11:31:00 AM

You would usually put it in the cost of goods sold (COGS) section.

New Member
Jan 24, 2024 11:50:22 AM

Thank you for that but I can't find that section, where is it located? 

Moderator
Jan 24, 2024 11:58:17 AM

Are you using TurboTax CD/Download or TurboTax Online?

New Member
Jan 24, 2024 12:09:00 PM

Turbo tax Online

New Member
Jan 24, 2024 12:15:41 PM

I clicked on  use the “Find” tool to search for “self”. Select “Self-Employment” and then click the “Go” button but it doesn't take me to the T2125 - Statement of Business or Professional Activities page. 

-I'm using Turbo Tax Online

Intuit Alumni
Jan 24, 2024 12:27:32 PM

As an Independent Contractor you are required  to complete the Form T2125 (Statement of Business or Professional Activities). 

This form can be found in the menu on the left side under Income > Self-Employment> Self-Employment Profile. After the completion of your Self-employment Profile for 2023 it will lead to the (interview) Form T2125, where you can enter your income and expenses. 

 

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