Comics-scifi_collectibles Volunteer Community Mentor
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I like the financial summary report to help with figuring out my profits that I have to pay taxes on. You still pay taxes on the PROFITS even if you don't receive a 1099K
https://www.ebay.com/sh/fin/reportslanding Financial overview Download it as a PDF.
You will report the gross and then subtract expenses. I subtract the cost of the item, shipping, returns, fees, mileage to the post office and any supplies that I have the receipts for. You can file a schedule C and it will say what you can deduct. Don't deduct home office without talking to an accountant.
I like the financial summary report to help with figuring out my profits that I have to pay taxes on. You still pay taxes on the PROFITS even if you don't receive a 1099K
https://www.ebay.com/sh/fin/reportslanding Financial overview Download it as a PDF.
You will report the gross and then subtract expenses. I subtract the cost of the item, shipping, returns, fees, mileage to the post office and any supplies that I have the receipts for. You can file a schedule C and it will say what you can deduct. Don't deduct home office without talking to an accountant.
