I just got my 1099-K form from Paypal. I have a question.
jake1718
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Posted on
Feb-03-2018
09:24 PM
Hello, this will be my first time doing taxes.
I just got a 1099K from paypal for selling on eBay and having over 500 transaction. I am planning on using TurboTax.
From what i understand, i have to take this total amount and subtract my cost basis, eBay fees, and paypal fees?
All of my items have free shipping, so i paid for shipping myself.
Thank you.
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temp20190328s
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Feb-06-2018
07:35 AM
Yes, that sounds about right. Just figure out your profit and put that on your Schedule C form.
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