turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Etsy Shop

I just started an Etsy shop...no sales yet.  Does Etsy provide an income statement to me?  Is there an amount minimum before I have to report?  Is there a "practice" turbo filing where I can see how my taxes would look to report a shop with no earnings?

 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Holly W
Employee Tax Expert

Etsy Shop

Hello @Dellrosie 

Thank you so much for being here!  We're so happy you for your participation.  Also, congratulations on your new Etsy adventure, I'm sure you'll do wonderful!


Does Etsy provide an income statement to me?  Yes, they will provide a 1099-K form for gross sales over 600.00  Here is a link for Etsy & Form 1099-K.

 

Is there an amount minimum before I have to report?  Yes, according to the IRS, the minimum amount of Self Employed income gross income is $400.00  Self-Employed Individual tax center .  

Is there a "practice" turbo filing where I can see how my taxes would look to report a shop with no earnings?  Yes, TurboTax has several tax calculators, from "How to estimate your federal withholding" to a "Taxcaster tax calculator"  Click here ->  TurboTax Tools & Calculators 

Again, congratulations and Good Luck!  Please let me know if you have any follow-up questions, I'll be happy to help!

 

Cheers!

Holly W

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies