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In business income, do I report net sales or net income? I have already added my expenses.
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June 6, 2019
4:59 AM
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Business & farm
On the Sch C you will enter either GROSS income and take the sales tax as an expenses OR NET income ( gross - sales taxes ) ... either is correct just be consistent.
June 6, 2019
4:59 AM
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Business & farm
Net income, but not net profit.
Net income could include interest income as well as the sales income.
June 6, 2019
4:59 AM