Tax deductions on transaction history for 2020

totalrecall90s
Contributor
Contributor

My wife had an online fabric business through PayPal, but passed away suddenly on April 29, 2021. I was not involved in her business, so I really don't know much. She received a 1009K from PayPal, but I don't know what portions of her transaction history are tax-deductible. I'm having to do a refile for the IRS for 2020, and I do have a printout of all her transaction history for 2020, but I could really use some help on determining what, if any, transactions are tax-deductible (Schedule C). Are shipping costs deductible? How about food purchases? What's the difference between payments to individuals/websites and "Paypal Working Capital"? I would appreciate any assistance related to tax-deductible for her business. Thank you.

 

Nathan <removed>

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1 REPLY 1

PayPal_Donna
Moderator
Moderator

Hello totalrecall90s,

 

Welcome to the PayPal community and thank you for your post.

 

Firstly, I would like to offer my condolences to you on your recent loss. 

 

In this situation, the best thing to do would be to contact our Customer Care department. You can do this by going to the ‘Contact Us’ link at the bottom of every PayPal page. You will then see what contact options are available to you. 

 

-Donna

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