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How to Handle Etsy sales in Business Turbotax
Wife sells hand made crafts on Etsy
So she sells an item for lets say $10.00
Etsy accepts the payment, deducts the proper tax for the state where it was sold, deducts a fee and the
remaining balance or AGI is then deposited in the wife's account directly.
Example.
$10.00 sale, wife get $8.00 deposited. Etsy keeps 8% or 80 cents for taxes that they send to the state
and they keep $1.20 for the fee.
Where does the tax get imputed into TurboTax and where does the fee get inputed
We have totals for sales, taxes paid, fees paid and adjusted sales, just not sure where the tax and fee gets imputed.
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March 3, 2022
4:51 AM