If I received a 1099 K from Paypal for Ebay sales, where do I report the cost of goods and fees and commission/postage costs? I in fact incurred a loss in the process.
If I received a 1099 K from Paypal for Ebay sales, where do I report the cost of goods and fees and commission/postage costs? I in fact incurred a loss in the process.
You report your cost of goods sold, your business expenses, as well as your income on Schedule C of your tax return. It looks like you are using TurboTax Premier. You will need to upgrade to TurboTax Self-Employed in order to do so.
If I received a 1099 K from Paypal for Ebay sales, where do I report the cost of goods and fees and commission/postage costs? I in fact incurred a loss in the process.
You report your cost of goods sold, your business expenses, as well as your income on Schedule C of your tax return. It looks like you are using TurboTax Premier. You will need to upgrade to TurboTax Self-Employed in order to do so.
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