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New Member
posted Mar 28, 2025 2:13:06 PM

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?

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1 Replies
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.