You can file your self by entering your Form 1099-G into TurboTax as follows:
- Do a search for 1099-G from inside your return, enter 1099-G in your search box at the top of your screen (Important! Make sure to include the dash in your search, or you'll end up on the unemployment/paid family leave screen.)
- You should see a "Jump to" link for it. If you don't see the "Jump to" link,
- Open your return
- Go to the Federal Taxes tab
- Select Wages & Income
- Hit See List of All Income
- Look for the 1099-G form under the Unemployment and Paid Family Leave section
- On the Did you have any of these types of income? screen, answer Yes.
Generally, you must include in federal taxable income any unemployment compensation from a state government.
- Box 1 of the 1099-G Form shows your total unemployment compensation payments for the year.
- Schedule 1 for Form 1040 includes a separate line for unemployment compensation in the income section.
- It is not necessary to attach the 1099-G to your tax return.
As for your eBay sales you only need to report the individual sales that you made a profit on. For example, if you sold 5 items and 3 of them were for less than you paid for them originally, you only report the income and expense for the 2 items you made a profit on.
Not every eBay sale is subject to income tax, but most are. If you use the site to get rid of household articles you've used in the past, you may qualify for "occasional garage or yard sale" treatment. According to the IRS, if your online auction sales are the Internet equivalent of an occasional garage or yard sale, you generally do not have to report income from those sales.
If you and the IRS classify your eBay sales as a hobby, you'll have to report the income on Form 1040. However, if you classify it as a Hobby you are unable to deduct expenses incurred for your eBay sales.
If you sell and buy articles on eBay in order to earn money, the IRS will likely classify your sales activities as a business. This means you will have to report net income from eBay sales. Report your total gross income on Schedule C, then reduce it to net income by subtracting the amounts you spent for allowable business-related expenses.
Here's how to add your self-employment income:
- Open or continue your return.
- Search for schedule c and select the Jump to link in the search results.
- Answer Yes to Did you have any self-employment income or expenses?
- Follow the on-screen instructions.
You can contact TurboTax for Live support and even share your screen with a Live Agent, Click here for information on Turbo Tax Support
Click here for important facts for eBay sellers.
Click here for where to enter your Form 1099-G in TurboTax.
Click here for detailed information on Form 1099-G.
Click here for additional information regarding entering a Schedule C in TurboTax.
Click here for detailed information on Reporting Self-Employment Income on Schedule C.
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