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Where do I enter cost of goods sold as a self-employed individual?

 
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Where do I enter cost of goods sold as a self-employed individual?

Following the instructions below, you can enter the COGS/Total Purchase during the year in the Turbotax online version:

To get started, Log in to your TurboTax account, click on the Find icon on the top right => Enter "Business or Professional Activities", Click and Go => Click on "Enter New Business" => The following page will appear (Image 1), then you click on the Income and Inventory => Fill in all the required information, and press Continue until you reach to the page "Did you sell products that you bought or manufactured" (Image 2), where you can enter COGS/ Total purchases during the year.

Finally, you will see the "Self-employment or business summary", which includes the COGS amount determined by TurboTax based on the data you entered (Image 3).

 

Please see the screenshot below:

Image 1: 

Image 1.jpg

Image 2:

Image 2.jpg

Image 3:

Image 3.jpg

 

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