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lanlanpan
New Member

How much is the max expense deduction for 1099-K if filed as self-employment? How much other expenses are allowed (commission, CA taxes collected, cost of goods sold)?

 
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ColeenD3
Expert Alumni

How much is the max expense deduction for 1099-K if filed as self-employment? How much other expenses are allowed (commission, CA taxes collected, cost of goods sold)?

There is no limit. You would include every expense that was ordinary and necessary to perform your work.

 

You may have a Schedule C loss, and you might have a Net Operating Loss if you had very little other income.

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