ETSY 1099-K expense and income

[nitingautam]

I am filling Jointly, and my wife have a Etsy shop where she got 1099-K - we are filling this first time in TT and confused how to report income and expenses. Please Guide as 1099-K have gross sales. but we have expenses on material and self labor to make hand craft paper work.

please guide

[JStrick7]

I think you can fix this by adding a Schedule C and form SE.  However, if you don't have the right TT, it's going to want to upgrade, but you may be able to use the version you have by just asking for the form in the top left corner.

[LeonardS]

You will enter your 1099-K income from Etsy on Schedule C Profit or Loss from Business.   When you get to the page shown in the screenshot below you will enter your 1099-K on the line highlighted. 

 To enter your 1099-K income and your other income/expenses on Schedule C follow these steps: 

1. Open or continue your return Search for schedule c and click the Jump to link in the search results Answer, Yes to Did you have any self-employment income or expenses?
2.  If you've already entered self-employment work and need to enter more, select Add another line of work
3. Follow the on-screen instructions to enter your self-employment information @nitingautam

[nitingautam]

Thank you, @LeonardS . But I am not getting same screen, below is what i am getting. So I believe I have to go into Business Income?  Instead of going into Personal income?

Also what should be Accounting method - will it be cash ? 

[ColeenD3]

You have to choose business income. Once you do, you will see the 1099 screen