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WriteCraft
Returning Member

Can I report Amazon 1099K sales returns and refunds as an expense? Where would I put them?

I report 'Goods for resale' as 'Supplies' -- I don't use inventory accounting.  Amazon's 1099K is not adjusted for fees or refunds.   I put the fees under 'Other expenses', so should refunds go there, too?  Or is there a better place?
1 Best answer

Accepted Solutions
JulieCo
New Member

Can I report Amazon 1099K sales returns and refunds as an expense? Where would I put them?

Refunds issued would go on the income entry screen using the option Rebates/Refunds Paid.   So you would go back to "add income for this work" and then select the Rebates/Refunds Paid option.  See the sample screenshot below.  On the next screen you can enter a description and an amount.  This amount, then, will be deducted from your self employed income total on your Schedule C form.

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2 Replies
JulieCo
New Member

Can I report Amazon 1099K sales returns and refunds as an expense? Where would I put them?

Refunds issued would go on the income entry screen using the option Rebates/Refunds Paid.   So you would go back to "add income for this work" and then select the Rebates/Refunds Paid option.  See the sample screenshot below.  On the next screen you can enter a description and an amount.  This amount, then, will be deducted from your self employed income total on your Schedule C form.

View solution in original post

WriteCraft
Returning Member

Can I report Amazon 1099K sales returns and refunds as an expense? Where would I put them?

Quick and excellent answer -- thank you!!!
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