I've entered my 1099-K gross payments that were processed through my PayPal account. Are expenses the prices of items I paid to then resell or is that a separate section?
TurboTax is asking me if I had any expenses associated with my 1099-K ebay and paypal activity. So, I'm asking if this is where I declare the costs of goods sold or is that a separate area where I declare that?
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1 Replies
KathrynG3
Expert Alumni
May 15, 2021 12:23:30 PM
The area to declare the expenses is on Schedule C. If you are in the business of buying and selling goods on e-bay, you are self-employed.