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New Member
posted Jun 6, 2019 8:57:40 AM

If I filed a 1099-K and deducted all necessary expenses, with the government now owing me money over $3000 would I be given that money or not?

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1 Best answer
New Member
Jun 6, 2019 8:57:42 AM

Yes, you will receive your refund.

Every business has operating expenses, and a sole proprietorship is no different. As long as your expenses are "ordinary and necessary," in the parlance of the Internal Revenue Service, you can claim them on your tax return.

Taking Business Tax Deductions https://turbotax.intuit.com/tax-tips/small-business-taxes/taking-business-tax-deductions/L5RueYPVS

Deducting Business Expenses

What self-employed expenses can I deduct? https://ttlc.intuit.com/replies/5559255

1 Replies
New Member
Jun 6, 2019 8:57:42 AM

Yes, you will receive your refund.

Every business has operating expenses, and a sole proprietorship is no different. As long as your expenses are "ordinary and necessary," in the parlance of the Internal Revenue Service, you can claim them on your tax return.

Taking Business Tax Deductions https://turbotax.intuit.com/tax-tips/small-business-taxes/taking-business-tax-deductions/L5RueYPVS

Deducting Business Expenses

What self-employed expenses can I deduct? https://ttlc.intuit.com/replies/5559255