Solved: If I collect sales tax when selling books, do I need to report on my income tax return?

If I collect sales tax when selling books, do I need to report on my income tax return?

posted

Yes, you received the income and then you paid out the tax as an expense. If your bank account is audited, the numbers should all match.

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Yes, you received the income and then you paid out the tax as an expense. If your bank account is audited, the numbers should all match.

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

If I collect sales tax when selling books, do I need to report on my income tax return?