All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Valued Pioneer
Posts: 4
Registered: ‎04-16-2018
Accepted Solution

Schedule C - where enter demo kit cost and giveaway items cost

Independent Contractor for direct sales; using software. Where on Schedule C do I enter the following? 

 

1)  I purchased a required demonstration kit as well as other product items. \

 

2) I purchased products to give away as gifts.

 

3) Catalogs, paperwork, etc.

 

Thanks!!!

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Associate (Neighbor)
Posts: 220
Registered: ‎07-22-2014

Re: Schedule C - where enter demo kit cost and giveaway items cost

Hello, SpiderBunny, and welcome to the community.

 

I would enter the items from 1 and 3 in the "supplies" category (which ends up on line 22).  Paperwork also could be entered in the category of "office expenses" on line 18.

 

If I were preparing your return, I would enter the cost of the products which you purchased to give away as gifts as "other expenses," which would show up on line 27 - with a detailed explanation on line 48 on the second page of Schedule C.

 

Hope that helps!

 

-kurt

Valued Pioneer
Posts: 4
Registered: ‎04-16-2018

Re: Schedule C - where enter demo kit cost and giveaway items cost

Thanks so much, Kurt...very helpful!!