You'll need to sign in or create an account to connect with an expert.
Yes. Unless you account for Costs of sales via Schedule C, IRS can presume amount on 1099K is all taxable profit.
Yes. Unless you account for Costs of sales via Schedule C, IRS can presume amount on 1099K is all taxable profit.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
77aa3cb72278
New Member
Hardway
Level 2
chino8219
New Member
rbwitcher2
New Member
brennad0130
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.