Where do you enter paper and copying costs for my newspaper business?

[ChetC7]

Hi there,

It depends on the purpose of the newspaper business - if the business is responsible for printing and distributing newspapers, then it would be 'Printing and Distribution'.  There maybe other potential expense categories too, like if the newspaper is used for research and reference purposes, then it might be under 'Office Supplies'. If its used to promote the business, then it might be under 'Marketing'. 

[TurboTaxJessica]

Paper and copying costs are direct costs associated with making newspaper, so they should be categorize as Cost of Goods Sold. Enter the value of your raw material, goods in process, and finished goods inventory at beginning of the year under 8300, and enter purchases (net of returns, allowances, and discounts) you made during the year under line 8320.