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Where do I enter the Deductions for E-Bay shipping and fees ?
My wife and I both sell merchandise on E-Bay. This year we both got Form 1099-K statements from PayPal because of the amount of gross sales we had (while the federal limit for these sales is $20,000, the Massachusetts limited is significantly less, like $600). I understand that it does not matter, if it is over $400 I have to report the income, but since the 1099-K is "gross sales", where do I subtract shipping and E-Bay fees ? The section on TurboTax for Business Deductions does not seem to have a section for those deductions, and there is no section for Miscellaneous. Which category should I use ?
‎February 21, 2021
1:45 PM