MarilynG1
Expert Alumni

Business & farm

Because you received a 1099-K, this is considered a Business and filing a Schedule C is required.  The good news is that you can claim Expenses against the income reported on your 1099-K.

 

Type 'schedule c' in the Search area, then click on 'Jump to schedule c' to make your entries.

 

Click the link for more detailed info on  Reporting Business Income and Expenses.

 

Depending on what type of items you sold, you may want to look at the 'Cost of Goods Sold' section. 

 

 

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