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Get your taxes done using TurboTax
Ok, then I can (also) write off about $40 in shipping. Keep in mind alot of this is greek to me, but I am still learning. So when I make a third negative entry, I would note the vacuum but only put the negative shipping cost (~$40) and put that it was for calculated shipping.
This brings up another question: Should I file the 1099-K as Personal (non-taxable), and put postive & negative entries into other income? Or file the 1099-K as Other (taxable) as it currently is, and put only negative entries (for cancelled items + shipping) into other income? I checked the IRS guide, and I think it said the latter (even for personal items).
‎February 6, 2023
8:14 AM