App Stores income on Schedule C
I am filing my taxes as a business owner and adding my disregarded LLC income to my Schedule C (not hobby, but for profit). Last year, my business earned income for the first time from app stores, but they did not issue any 1099 forms. I’m having trouble with how to report this income in TurboTax, as the available options only seem to ask for 1099s, checks, or cash. All the expenses have been already reported so the focus is on income now.
Specifically, my questions are:
How do I report income from app stores in TurboTax when no 1099 was issued? Is there a specific section for reporting income from online platforms like app stores?
When manually entering the income, should I report the gross income I received before the app stores took their fees, or should I only report the net amount I received after their fees were deducted? Please note that these stores only list what was paid out to me not the gross amounts.
Thank you for your help! I want to ensure that I’m reporting everything correctly.
