I received 1099K for selling goods online. How do I report the cost of such goods if they were not purchased in the same online platform and not captured on the 1099 K?
01676
1 Replies
ThomasM125
Expert Alumni
Mar 29, 2025 9:30:19 AM
You need to enter the sales proceeds and cost of sales in the self-employment income section. Indicate that you have inventory and enter the goods purchased as purchases. Enter $0 for beginning and ending inventory of you don't have that.