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April 9, 2022
Question

How much is the max expense deduction for 1099-K if filed as self-employment? How much other expenses are allowed (commission, CA taxes collected, cost of goods sold)?

  • April 9, 2022
  • 1 reply
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1 reply

ColeenD3
April 9, 2022

There is no limit. You would include every expense that was ordinary and necessary to perform your work.

 

You may have a Schedule C loss, and you might have a Net Operating Loss if you had very little other income.