Amended return for missed expense (Stripe fees)

[user17743805381]

I write a Substack newsletter which uses Stripe as payment processor. I realized this year that I completely missed claiming the Substack and Stripe processing fees. I want to amend the previous years by claiming the fee total an expense under my newsletter business, starting with 2024.

I got as far as TurboTax prompting me for any supporting documents. I'm not sure what exactly to attach. In Stripe's dashboard, there is a "balance summary" and a "payout reconciliation", with slightly different numbers. Also, I can just kind of PDF print these basic results, or export a big itemized spreadsheet with a fee column. Can anyone answer whether one of these reports (showing 01/01/24 to 12/31/24) is the right supporting evidence for claiming these fees? I can't think of anything else I could offer but I don't want to make some kind of mistake.

1.  

[DavidD66]

What did you report as income for your business?  The gross charges of $14,447 or the net Payout of $12,128.  If you reported the net payout, you don't need to add the fees, they are already reflected in that amount.  If you reported the Gross Charges, then you would deduct your fees as an expense on Schedule C.  You don't need to attach anything, you just need to add an expense for "credit card processing" or similar in your business section.  

[user17743805381]

This is for an amended return just to be clear. You think there is no need to attach the spreadsheet showing the processing fees? (And if I did want to attach that do you have any idea which of the two, the "payout reconciliation" or the "balance summary" actually captures the fees I paid in the calendar year? And yeah I entered the gross off the 1099 so I accidentally missed fees.

Sorry, I don't really know this backend stuff well!

[VolvoGirl]

No the IRS doesn’t want your details or backup info sheets.  Just keep them if the IRS ever asks to see it.