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Investors & landlords
You enter the whole amount as income then can enter the expenses you paid for. Reimbursements would be an expense. Product and parts would probably be entered as Supplies. Or you can use line 27a Other Expenses. Then only the Net Profit (or Loss) on Schedule C goes to your 1040 and gets taxed.
‎January 7, 2021
5:57 PM
1,180 Views