About softballbomb

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Re: I received a 1099-K from my payment processor Shopify for my gro...

Thanks, the IRS does not see each individual 1099-K on my tax return right? I list each one separate but when looking at my .pdf file of last years return, that...

softballbomb

1

Updated Feb 15, 2022
Re: I received a 1099-K from my payment processor Shopify for my gro...

Thanks so much, since I have cash receipts too which I report in the same section as the 1099-K. Couldn't I eventually just deduct the 1099-NEC out of the cash ...

softballbomb

3

Updated Feb 15, 2022
Re: Inventory/Tax Question. Please Help!

I understand that, but was trying to simplify it a little. Here is my calculations which are just examples. I am comparing two years with only difference is the...

softballbomb

2

Updated Feb 04, 2022
Re: Inventory/Tax Question. Please Help!

Thanks for the screenshot, yes I think I do understand how it works.Starting inventory + purchases − ending inventory = cost of goods sold.Ive done all of that....

softballbomb

4

Updated Feb 04, 2022
Re: Inventory/Tax Question. Please Help!

I do believe its accurate, I just dont get how there IRS can basically tax my inventory that I bought with cash saved from previous taxed earnings. I know its n...

softballbomb

6

Updated Feb 04, 2022

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Date Registered	‎February 4, 2022 6:32 AM
Date Last Visited	‎February 15, 2022 11:17 AM
Total Messages Posted	8

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