Tax Question

[liawrig.nq8rdwqa3]

I just finished my tax filing with a software program.  I didn't see where I claim shipping fees and fees charged by Ebay (etal).

In the software program there is a question about "other expenses".  Is that where I would put the total shipping fees paid and other fees charged?

[mcdougle4248]

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@liawrig.nq8rdwqa3 wrote:

I just finished my tax filing with a software program.  I didn't see where I claim shipping fees and fees charged by Ebay (etal).

In the software program there is a question about "other expenses".  Is that where I would put the total shipping fees paid and other fees charged?

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Yes, that is how my accountant does it.

[mr_lincoln]

@liawrig.nq8rdwqa3    Check your software program and see if they have an option to complete an IRS Schedule C form.  That form is comprehensive when it comes to deductions.

But yes to your question on other expenses, not to mention Refunds you issued throughout the year or the mileage you drove to acquire inventory, ship packages, pick up supplies.  The government allowed 57.5 cents per mile last year.

[luckythewinner]

Schedule C (Profit or Loss From Business)

Part II (Expenses)

Line 10 (Commissions and fees) 

... seems like a good place to deduct the fees you pay to eBay and PayPal. 

Schedule C (Profit or Loss From Business)

Part IV (Other Expenses)

... creating an entry labeled "Postage" seems like the consensus for postage costs. 

[releasethekraken_1 · Accepted solution]

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@mr_lincoln wrote:

@liawrig.nq8rdwqa3    Check your software program and see if they have an option to complete an IRS Schedule C form.

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They've already done that. They're asking for a specific location on Schedule C (e.g. "Other Expenses").