You'll need to sign in or create an account to connect with an expert.
Yes. Unless you account for Costs of sales via Schedule C, IRS can presume amount on 1099K is all taxable profit.
Yes. Unless you account for Costs of sales via Schedule C, IRS can presume amount on 1099K is all taxable profit.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Raph
Community Manager
jacimmoore11
New Member
trrsj
New Member
minhhieu0912
New Member
Tamlyn74
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.