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

 
6 Replies

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

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

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

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

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

Are you using TurboTax CD/Download or TurboTax Online?

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

Turbo tax Online

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

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

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

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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