Deduct refunds from income ebay

Forum|Forum|7 years ago
June 6, 2019
3 replies
1 view

Where do I enter the refunds I gave for items returned for my eBay business? This is my first time using TurboTax Self Employed and I only have a couple of returns but I'd like to account for them somehow.

TurboTax Self Employed Online

Best answer by Irene2805

In TurboTax Self-Employed, the program refers to "returns and allowances" as "refunds and rebates." To enter returns in TurboTax, please follow these steps:

In your return click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
On the Your 2019 self-employed work summary screen, click on Edit next to your business.
On the Here's your [business] info screen, click on the box Add income for this work.
On the screen, Let's enter the additional income for your[XX] work, mark the radio button next to Rebates/refunds paid and click Continue.
On the next screen, Tell us about refunds and rebates for your [XX] work, enter the description and amount of the refunds. You can just enter a total if you wish or you can click Add another row for additional lines.

[Edited | 3/18/2020 | 12:04 am PDT]

grantbtAuthor

Level 2

I'm using cash method, no inventory. I see on Sched C there is "returns and allowances". If I add a line item in income and call it returns and allowances and put in a negative number, will it go to line Part I Income, Line 2, Returns and Allowances? And what do people that perform a service do for refunds?

grantbtAuthor

Level 2

Or should I remove them from Income?

Irene2805Answer

Level 15

In TurboTax Self-Employed, the program refers to "returns and allowances" as "refunds and rebates." To enter returns in TurboTax, please follow these steps:

In your return click on Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
On the Your 2019 self-employed work summary screen, click on Edit next to your business.
On the Here's your [business] info screen, click on the box Add income for this work.
On the screen, Let's enter the additional income for your[XX] work, mark the radio button next to Rebates/refunds paid and click Continue.
On the next screen, Tell us about refunds and rebates for your [XX] work, enter the description and amount of the refunds. You can just enter a total if you wish or you can click Add another row for additional lines.