RobertB4444
Expert Alumni

Retirement tax questions

Ok, if this is a business then you go to the self-employed business section on TurboTax and then you enter the amount that you sold.  If you sold more than the 1099-K then you enter the 1099-K in as well as any other money you may have made.  The total of the sales for your business should equal the amount that you received - not greater which can happen if the 1099-Ks that you received overlap.

 

Then you have to enter in the costs of the items that you sold.  Every item.  You also have to enter the costs that you paid for shipping and the packages that you shipped in and any internet fees that you paid.  You have to enter all of that to get the bottom line amount of how much you actually made and therefore how much you actually owe taxes on.

 

@holtm70 

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