Cost of Goods Sold
I had a question for the phrase “Cost of Goods Sold.” If I am a freelance copywriter who edits content (doesn’t sell things per day), how would I go about filling this line in my tax form? I would really appreciate your input! Thank you.
Based on the information that I have, I don’t believe you are eligible to claim a deduction for cost of goods sold since you do not have inventory nor do you sell any products. However, check out this article which has a lot more information and should answer your question.
Best of luck,
Crystalynn Shelton, CPA