LenaH
Employee Tax Expert

Self employed

If your 1099-NEC is showing NET, then you would not deduct the fees as it is already deducted. If your 1099-NEC is showing GROSS figures (including the 20%), then it is deductible. If it shows the gross amount, you can deduct it under commissions.

 

The clothing purchased you can deduct under supplies.

 

The equipment (depending on the cost), should be entered as an asset and depreciated. These would be larger purchases (usually more than $200), which last more than one year.

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