Where to find Inventory Costs for 2020 Desktop TurboTax Home and Business

Yes it should have been several years ago...however...I am trying to fill out the business profile and expenses as a self-employed HVAC contractor. I cannot find where to put the inventory (it is always greyed out) and I never get asked questions about it. I am using 238220 as the business code and I am able to put in the house expenses and other business expenses but not the inventory of furnaces that were purchased and then sold to clients. Where can I find this in 2020 TurboTax Home and Business Desktop?

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Moderator

Feb 19, 2025 5:58:46 PM

In form mode, some part of the form won't be available depending on the type of business you selected. For Self-employed business with stock/inventory you should select T2125 B1, for business, not 2125 P1 for professional. You can have a look at the forms in your return when you click on the Forms tab at the bottom of the screen (see screenshot).

Here a link from CRA website where you can have details on how to fill out your T2125.

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Where to find Inventory Costs for 2020 Desktop TurboTax Home and Business