My 1099misc had box 9 checked buthe no amounts on the form.

BennettL — Sat, 01 Jun 2019 07:44:21 GMT

I only purchased product for my self and family and did it at cost without a profit. Do I still need to do a schedule C? Thanks!

No, you do not have to prepare a Schedule C unless you ha...

ToddL — Sat, 01 Jun 2019 07:44:22 GMT

No, you do not have to prepare a Schedule C unless you had business income related to these purchases or are claiming a business deduction.

The 1099-MISC only reported that they had sold you a significant amount of product, possibly a heads-up to the IRS that you were making wholesale purchases and may be selling the product without reporting income.

This is the tax reporting requirement for the vendor:

In addition, use Form 1099-MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment (box 9).

Unless you sold the merchandise for a business purpose (to make a profit), you don't need to report anything.

Keep good records about any deposits you made with reimbursements from your family.

topic My 1099misc had box 9 checked buthe no amounts on the form. in Get your taxes done using TurboTax

My 1099misc had box 9 checked buthe no amounts on the form.

No, you do not have to prepare a Schedule C unless you ha...