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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.
‎April 14, 2022
12:12 PM