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I sell items on eBay where do I file my ebay and Paypal fees. These should come off at 100% correct?
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I sell items on eBay where do I file my ebay and Paypal fees. These should come off at 100% correct?
This business activity should be reported on Schedule C, which TurboTax Self Employed does support.
You certainly can report these fees on line 10 of the Schedule C - "Commissions and fees" - or you could report them on line 27a - "Other expenses (from line 48", explicitly naming then as "Ebay and PayPal fees". You do report 100% of your fees.
Tom Young
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I sell items on eBay where do I file my ebay and Paypal fees. These should come off at 100% correct?
100% of those expenses will reduce your profit by that much.
The amount of tax owed will only be reduced by a percentage of those expenses.
The amount of tax owed will only be reduced by a percentage of those expenses.
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I sell items on eBay where do I file my ebay and Paypal fees. These should come off at 100% correct?
This business activity should be reported on Schedule C, which TurboTax Self Employed does support.
You certainly can report these fees on line 10 of the Schedule C - "Commissions and fees" - or you could report them on line 27a - "Other expenses (from line 48", explicitly naming then as "Ebay and PayPal fees". You do report 100% of your fees.
Tom Young
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