You will keep a separate entry in your accounting records for taxes paid on inventory, but do not need to list it separately your income tax return. Your cost of inventory includes the shipping and taxes paid to obtain the inventory.
helpimnew
New Member
boardofpowder
Level 1
contraria
New Member
art10081985
New Member
KB2221
Returning Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.