Solved: A store sells my products on consignment (eg. $1000) and pays me after taking a consignment fee (eg. $500). Do I report my gross income as $1000 or $500?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
aoeistudio
New Member

A store sells my products on consignment (eg. $1000) and pays me after taking a consignment fee (eg. $500). Do I report my gross income as $1000 or $500?

 
1 Best answer

Accepted Solutions
levisncap89
New Member

A store sells my products on consignment (eg. $1000) and pays me after taking a consignment fee (eg. $500). Do I report my gross income as $1000 or $500?

Gross of $1,000 less selling expenses of $500. Net of $500

View solution in original post

1 Reply
levisncap89
New Member

A store sells my products on consignment (eg. $1000) and pays me after taking a consignment fee (eg. $500). Do I report my gross income as $1000 or $500?

Gross of $1,000 less selling expenses of $500. Net of $500

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings