Re: Commission from selling platforms

If I sell items online and get payouts from online platforms, can I deduct the amount of money lost in commission fees to those platforms as a business expense?

posted

Hi!

Since you sell items online, you should report the income as a Sole Proprietor.

Sole proprietors include their business income on a Schedule C on their personal tax return, then yes, you can write off commission fees and other business expenses. Please see the links below for additional information.

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

https://www.irs.gov/pub/irs-pdf/p334.pdf

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