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Get your taxes done using TurboTax
If your 1099 shows a net number (the fees were already deducted and your 1099 shows the amount you actually pocketed), then the fees are not deductible on your Schedule C.
If your 1099 shows a gross number (the amount made before Wyzant deducts their fees), then you can deduct the fees as a business expense on your Schedule C. Their total fees and other applicable information should be on their website.
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‎April 10, 2022
5:23 AM