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What form do I fill if I made money of 3rd party apps to sell. Barely made any dales . but still used my own money to fund most sales.

Is this considered  a business because I purposely sold as a way to make money?
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2 Replies
MayaD
Employee Tax Expert

What form do I fill if I made money of 3rd party apps to sell. Barely made any dales . but still used my own money to fund most sales.

Yes, it is considered a business. You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 and 1040-SR instructions 

 

You need to upgrade to Turbo Tax Self-Employed (Online) or TurboTax Home & Business (desktop) and, You would report your income as Self employment income on Schedule C.

 

To report your income and expenses on your return:

  • Log in to your account.
  • Select Federal from the left menu.
  • Go to Wages and Income then select Income and Expenses.
  • Go to Self-employment income and expenses and click start. you'll be asked some general questions about your business. After you answer them, you’ll be taken to enter your Income and Expenses.

 

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What form do I fill if I made money of 3rd party apps to sell. Barely made any dales . but still used my own money to fund most sales.

If you do not want to pay for the expensive Self-Employed software:

 

Use this IRS site for other ways to file for free.  There are 8  free software versions available from the IRS Free File site

 

https://apps.irs.gov/app/freeFile/

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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