Etsy

Forum|Forum|2 years ago
March 13, 2024
1 reply
3 views

I am unemployed. But I started a Etsy shop. With Etsy they do not issue a 1099 to anyone who doesn’t make 20,000. I have a child who is 8. I would like to get the child tax credit. I can’t prove I made any money. Any suggestions

MinhT1

Level 15

Making money on Etsy is being self-employed.

You can report your income even if you do not receive any tax forms from Etsy. You still have proof of the payments received from Etsy in your bank account.

You report the income you received in cash, checks or bank transfers or without a 1099-NEC as self-employed income under Other self-employed income.

In business income, just under Type of Income, click on Add Income for this work
On the next page, click on the radio button next to Other Self-employed Income
Click Continue to enter your income received in cash, checks or bank transfers.

If you have expenses related to this business, you can deduct them.

To report your business income and expenses, you'll need to use TurboTax Deluxe or TurboTax Premium (Online) if you have expenses to deduct or any version of TurboTax (CD/Download).

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