turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Having 2 similarly named business on 1040?

I’ve been selling online as a self-employed business on 1040, and I describe the business as “online sales” to IRS.
If I also started selling on eBay, can I add another business named “eBay sales” with a completely new Sch C? I suppose combining them into one business would be simpler, but the types of items I sell are different and they also have different accounting method (cash method vs accrual), so I would like to report them as a different business if possible. My question is, would having two similar self-employed business cause IRS a deeper scrutiny and possibly raise your chances of being audited?

Thank you.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Having 2 similarly named business on 1040?

It’s not uncommon for a tax payer to have more than one business. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question