Thank you sir for your detailed reply but that is not the question I was looking for the answer to 🙂

I am deducting the sales tax collected and paid to the state that was reported on my 1099-K and included in my gross receipts reported on my return.

What I want to know is: since I pay the state Annually, from 03/01/2018 - 02/28/19, do I use the amount paid in 2018, which was for 03/01/2017 - 02/28/2018? or the actual amount collected in 2018 and deduct that?

Thanks for any help or advice!

Thank you, I guess don't understand your answer 🙂

I am receiving a 1099K and reporting that amount as sales. That amount includes state sales tax I collected.

My question is do I deduct the amount in tax collected that is included in that 1099K? OR do I deduct the amount I actually paid back to the state in 2018 (which includes tax collected from 2017 because I pay annually March-March) I would guess the former, but dont want to make assumptions 🤔

Thank you again for your knowledge and attention!