Exporting Schedule C
When tax season hits, ResaleTruth generates a clean package you can hand to your CPA or drop into TurboTax without a three-hour reconciliation session. Here’s what’s in it and how to use it.
What you get
Go to Reports → Schedule C → Export. Choose the tax year and your preferred format (PDF, CSV, or both). You get a ZIP file containing:
| File | Contents |
|---|---|
schedule-c-summary.csv | Main summary, organized by Schedule C line item |
sales-[year].csv | Every sale: gross, fees, shipping, COGS, net |
purchases-[year].csv | Every acquisition: date, source, cost |
expenses-[year].csv | Ledger entries tagged to Schedule C categories |
inventory-start.csv | Beginning inventory valuation |
inventory-end.csv | Ending inventory valuation |
mileage-[year].csv | Mileage log for Schedule C Line 9 |
consignment-[year].csv | Payouts to consignors (for 1099s if applicable) |
Schedule C line mapping
When you create a ledger expense, you tag it to a Schedule C line:
| Tag | Schedule C line |
|---|---|
| Office expense | Line 18 |
| Supplies | Line 22 |
| Rent/lease | Line 20a |
| Car and truck | Line 9 |
| Other | Line 27a |
At export time, we aggregate by category. Your accountant or tax software can drop numbers straight onto the form.
How COGS is calculated
We use FIFO (first in, first out) by default: when a unit sells, the oldest unsold unit of the same product gets its cost consumed. If you prefer specific identification (common with high-ticket or one-of-a-kind items), you can override per item in the item detail screen.
Starting and ending inventory are valued at your cost basis — which is why we push hard on getting that number right during the year, not at the end of it.
Dashboard profit vs. tax profit — why they differ
The dashboard shows cash-flow profit: what came in, what went out, in that period. The Schedule C export shows accrual-flavored profit: COGS only hits when an item sells, regardless of when you bought it, and unsold inventory carries forward as an asset.
Both numbers are correct — for different purposes. Don’t panic if they don’t match. Your accountant will know what to do with each.
What ResaleTruth is not
We’re not tax software and we don’t file for you. We organize your data into a form your preparer or tax software can consume. The numbers are only as accurate as what you logged during the year — garbage in, garbage out applies. If you want to review before exporting, the Reports → Reconciliation view shows any items with missing cost basis, untagged expenses, or data gaps.
Questions? Email help@resaletruth.com