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New Member
posted Jan 27, 2025 6:33:22 PM

if I make money by selling things i have made myself at home but don't have any proof of the sales what do I do as far as filing my taxes?

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2 Replies
Level 15
Jan 27, 2025 6:38:18 PM

Bank deposits might be helpful. As a business owner you have the responsibility to keep records of your income. 

Employee Tax Expert
Jan 27, 2025 6:54:01 PM

Reconstruct your gross sales from other records as best as possible.  The IRS will not have access to more accurate information.

 

In TurboTax Online, Self-employment income and expenses may be reported under Federal and Wages & Income.

 

You may also report hobby income but hobby expense is not allowed to be reported.  Follow these steps.

 

  • Down the left side of the screen, click on Tax Home.
  • Click on the down arrow to the right of Review.
  • Click on the blue band labeled Review.
  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Scroll down to Less Common Income and click on the dropdown menu.
  • To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
  • To the right of Hobby income and expenses, click the Start / Revisit button.

The income entry will be reported:

 

  • on line 8j of Schedule 1 of the Federal 1040 tax return, and 
  • on line 8 of the Federal 1040 tax return.

@zoeysales2023