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Inventory and Cost Of Goods sold

I was sent a 1099-G by PayPal for 2019, for selling over $20,000 in goods on ebay.
I am trying to finally get 2019 filed but am having a hard time entering the shipping costs under Business Income and Expenses. Anyone who sells on ebey knows that you only net about a third of the income on a sale with shipping, paypal fees, ebay fees, and cost of goods.
I'm just trying to figure out where to log all my deductions appropriately. Any advise would help and be greatly appreciated.
Thanks so much.

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1 Best answer

Accepted Solutions
ThomasM125
Expert Alumni

Inventory and Cost Of Goods sold

When you enter your business income and expenses, you will see an option for Business Expenses and then Other Common Business Expense. In that section, you will see a list of common expense categories such as Advertising, Contract Labor, and Office Expenses. At the bottom  of the list, you will see Other Miscellaneous Expenses. If you see a category for the expense you want to enter, enter it there. If not, then use the Other Miscellaneous Expenses option to type in a description and amount for your expense.

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1 Reply
ThomasM125
Expert Alumni

Inventory and Cost Of Goods sold

When you enter your business income and expenses, you will see an option for Business Expenses and then Other Common Business Expense. In that section, you will see a list of common expense categories such as Advertising, Contract Labor, and Office Expenses. At the bottom  of the list, you will see Other Miscellaneous Expenses. If you see a category for the expense you want to enter, enter it there. If not, then use the Other Miscellaneous Expenses option to type in a description and amount for your expense.

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