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Reply to "1099 from ebay but shipping costs where included"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Shipping is a deductible business expense. It’s gross receipts and you’ll add to deductions along with supplies, marketing, lease (if any) , etc. Schedule C is for your business whether sole prop or other entity [/quote] Can you make deductions if I don't own a house I rent an apartment? I thought I couldn't thank you.[/quote] These are deductions for a business expense. It has nothing to do with where you live. So if you make $8000 on eBay, and you paid $2000 for the merchandise plus $900 in fees and $200 in supplies, then you subtract out (deduct) the expenses from your sales. So you are only paying taxes on $4900 income ($8000-$2000-$900-$200)[/quote]
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