Travel Agent report gross or net income?

[thebetterw0nka]

If I sell a tour for $100 and pay $80 to the operator, should I report my income as $20 (my commission) or as the entire $100?  If I report the $100, where do I subtract the $80 that went to the tour operator?

[Marketstar · Accepted solution]

You should claim the gross income, then deduct the expenses in the following area.

Type in schedule c in the search box, top right of your screen

Click on the first category Jump to schedule c link

Follow the prompts and online instructions

Arrive at the Your Business page

Scroll down to the Business Expense category

Click start or update next to Other Common Business Expenses category

Arrive at the Let's write off some business expenses page

Scroll down to the Commissions category and make your entry.