Level 1

Business & farm

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!