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Taxes
Unsure how to handle and what I need to do concerning net sales and the IRS. Appreciate advice on this subject.
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Discussions in this board are limited to the original poster and Community Mentors
Unsure how to handle and what I need to do concerning net sales and the IRS. Appreciate advice on this subject.
woodland_gnome
·3 years agoIt is gross sales you have to report and then deduct cost of goods and other allowable expenses on the appropriate form (usually 1040 Schedule C). Consult your tax preparer, tax software with guidance, or the IRS publications and instructions.