Question

Confusion with Schedule C and shipping charges

Forum|Forum|2 years ago
March 3, 2024
1 reply
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This is crazy but here goes. I have very few sales that amount to less than $4000. I drop ship and pay shipping charges to my supplier - I do not charge my customers shipping.

I have entered all my figures and the shipping cost of $512 under Business Expenses Not Yet Reported but when all is said and done, TT says I have exactly $512 more in net income. Should I be adding that $512 to the cost of goods sold?

Am totally confused -

SusanY1

If you entered it from a form such as 1099-NEC or 1099-K you may still need to "link" the income with the Schedule C for the income to populate on that form. You can do this by returning to the section where you entered the income (which is under Wages & Income, then Other Common Income). Select Edit beside the type of income entered and then walk back through the section for the option to link to your Schedule C or create a new one.

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G

gtmylanAuthor

No - it was not 1099-NEC or 1099-K - I simply entered the income on Schedule C where it asked for this figure. Any other suggestions would be greatly appreciated!

A

AnnetteB6

This is a long-shot, but did you enter the shipping expense as a negative number? If so, the end result would be to add it to your income instead of subtract it.

@gtmylan

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