I am going to finish up my taxes this week and have to file a sch c for my ebay sales. Last year I claimed a computer, total cost was 686.00 and I took full depreciation, but do not use it this year that much, gave it to my son since I got a tablet for work. I answered the questions on turbo tax stating this and it says additional paperwork will be completed by turbo tax but I don’t see the recapture reflected in the numbers that show my refund so how do I pay that money back or will it happen later when I submit my filing?
Second Question, I asked something to this extent previously but just want to make sure I’m clear my 1099 k is from ebay but only included the months that they were the payment processor, I have around 790.00 that was paid through paypal with sales, after I enter my 1099k amount on the next line should I put the 790.00 ad other sales income collected through paypal?
third question, i mentioned in a previous post I have no receipts for my items,made profit on most personal sales or garage sale finds, last year I left my cogs blank which may have been wrong, should I leave it blank or put a zero this year? I am going to pay tax on full sale since I have no cost comparison or receipts. I do not get the EIC due to my W2 income. I will only deduct my ebay, PayPal, and shipping fees, along with my costs for packaging tape under office supplies?
