Schedule C-EZ is gone, and now using Schedule C but want it simple...

[billythekid16]

I had previously used Schedule C-EZ, but the IRS now has discontinued that.

Looking over the 2019 Schedule C form, I want to simplify things as much as possible, like I was still using C-EZ.

Do I fill in line 18 (Office expense) for shipping cost?

And do I use Part V (Other expenses) writing in "eBay and PayPal fees" and fill in that amount on lines 48 and 27a?

Those are the only two things I want subtracted from my gross amount.

[mcdougle4248]

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@billythekid16 wrote:

I had previously used Schedule C-EZ, but the IRS now has discontinued that.

Looking over the 2019 Schedule C form, I want to simplify things as much as possible, like I was still using C-EZ.

Do I fill in line 18 (Office expense) for shipping cost?

And do I use Part V (Other expenses) writing in "eBay and PayPal fees" and fill in that amount on lines 48 and 27a?

Those are the only two things I want subtracted from my gross amount.

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I have my taxes done by a CPA.  Postage (Shipping), PayPal fees and Ebay fees are each enter as a line item under Part V Other Expenses.  Then the total entered on line 48 and 27a.

[7606dennis]

I would advise consulting a tax professional.

[gracieallen01]

If, after reading over the instruction pamphlet, and not finding the answers, were I you, I would call the IRS and ask them.  They have an 800 number.

The IRS has gotten a bad rep over the years, but nowadays they are actually VERY helpful and free with advice.  They will also advise contacting a tax professional if they can't help because they don't understand what you are asking, look for or trying to accomplish. 

[divwido]

I'd put it on other expenses.

[divwido]

on what we make on eBay?

[chapeau-noir]

https://payable.com/taxes/how-to-fill-out-schedule-c

It looks harder than it is. 

[1tuna]

if you will be going to the trouble of doing a schedule C you should try and and make it easy on yourself,its really not that hard to come up with deductions for an expense.I use the same list every year.I deduct hotels,packaging, office supplies, computers,ebay fees,postage,paypal fees,newspapers,tolls,airfare,mileage,meals,church donations and professional fees such as organization dues.

its easy to keep track of the same expenses every year,just look at what you used for expenses in prior years

[7606dennis]

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@divwido wrote:

on what we make on eBay?

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You are, after all, running a business.  I've always found it wise to surround myself with the most qualified people for the task at hand.  If I need medical treatment I go to a doctor, if I need legal advice I consult an attorney.  When it comes to evaluating an item I'm unfamiliar with, I consult someone knowledgeable in the field.  When it comes taxes I do the same thing.

Besides, it's a legitimate business expense.   

[mr_lincoln]

@billythekid16 

1. Section V:  I have the PayPal Shipping costs I paid in that section and then it goes up to line 27a

2. Line 18 Office Expense: you could probably put the shipping costs on this line too but this to me is what I would use to ink jet paper, ink for the printer, staples, scissors, pens, etc.

3. Line 22 Supplies: is where I list packaging material, shipping tape, bubble wrap, etc.

4. Line 23 Taxes and Fees: is where you would list the sales tax on all your sales from Nov 1 thru the end of the year, that will be in PayPal, they use that to charge you fees AND the sales-Use tax is part of the Gross total on PayPal's 1099K form so Sellers have to deduct the sales collected of the Gross so line 23 is where that goes.

5. Line 30 Expenses for Business use of your home:  I use the storage racks total L x W and the packing table dimensions square footage total then multiply b $ 5 which is the "Simplified" method for that deduction.

[tealt]

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@billythekid16 wrote:

.

Do I fill in line 18 (Office expense) for shipping cost?

And do I use Part V (Other expenses) writing in "eBay and PayPal fees" and fill in that amount on lines 48 and 27a?

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For reasons of its own, TurboTax put...

my postage costs under Office Expenses, and

EBay & PayPal fees under Utilities

Whatever. 

I have the records to cover all this, and lines 8 through 27b are all added into one big total anyway.