edmartin
Returning Member

Business & farm

Maybe I'm not being clear or maybe I don't understand. But let's try an example.  My wife's business sells something to a customer for $100.  When the transaction is processed, tax is applied/collected. So the final credit card transaction is for $106.  Stripe is reporting $106 on the 1099-K.  But the real income on that transaction isn't $106 - it's $100.  The $6 is collected and then paid it to the state.  I shouldn't be subject to federal income tax on the $106... I should be subject to tax on the $100, right?

 

I'm not doing the in the personal section.  This is all being done in the business section of the Home & Business edition... so it's all Schedule C stuff.