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H
hhabte1975
March 28, 2025
Question

I received 1099K for selling goods online. How do I report the cost of such goods if they were not purchased in the same online platform and not captured on the 1099 K?

  • March 28, 2025
  • 1 reply
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1 reply

T
ThomasM125
March 29, 2025

You need to enter the sales proceeds and cost of sales in the self-employment income section. Indicate that you have inventory and enter the goods purchased as purchases. Enter $0 for beginning and ending inventory of you don't have that.

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