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Etsy does not give 1099

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2 Replies

Etsy does not give 1099

You have self-employment income.  Even if you do not receive a 1099 of any sort, if you had even $400 of self-employment income you are supposed to enter it on your tax return.

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

If your self-employment income was only from cash, personal checks, credit card payments, or cryptocurrency 

Type Schedule C in the Search box and then select the Jump to link. This will take you to where you can enter any cash, personal checks, credit card payments, or cryptocurrency (Form 1099-K) related to your self-employment. You may first be asked some general questions about your business. After you answer them, you’ll be taken to the Let's get income for (your line of work) screen where you can enter this income as Additional Income.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
ErnieS0
Expert Alumni

Etsy does not give 1099

All income is taxable, whether you receive a 1099 or not. As Tax Champ @xmasbaby0 said, on top of income tax, you will owe self-employment tax on the net profit (income – expenses) from Etsy if the amount is above $400.

 

If you don’t receive Form 1099, you’ll need to set up your Etsy business. If you want to claim expenses, TurboTax will ask you to upgrade to TurboTax Self-Employed. It will also show you how much in expenses you will have to have to make your upgrade pay for itself.

 

To set up your business:

 

  • Type sch c in Search (the magnifying glass) in the upper right
  • Tap Jump to sch c and start answering questions
  • On “Let’s enter the income for your work," choose Other self-employment income, includes cash and checks

The ultimate guide to tax deductions for the self-employed

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