In 2017, I sold items on eBay that a family member owned. I received all the payments on PayPal. The items I sold totaled approximately $60,000. I sent my family member the proceeds from the sales --- after subtracting costs like: fees I paid PayPal and eBay, my commission, and USPS and shipping material costs.
What (form) do I need to send my family member for the money I sent them? Is there anything else I need to do?
Thank you,
Tim
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You would need to send the family member a 1099. You will need to upgrade to TurboTax Self-Employed to do that. As you walk through the Self-Employment section, you will come to a question asking if you need to issue a 1099 to anyone. If you answer yes, TurboTax will walk you through preparing the 1099 and you will also enter it on your return as a deduction to your income.
You would need to send the family member a 1099. You will need to upgrade to TurboTax Self-Employed to do that. As you walk through the Self-Employment section, you will come to a question asking if you need to issue a 1099 to anyone. If you answer yes, TurboTax will walk you through preparing the 1099 and you will also enter it on your return as a deduction to your income.
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