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When i sell my work at art shows i pay a % of sales to the promoter. does this come off my reported income
When i sell my art at art festivals i pay a % of sales to the promoter. Does this % come off the income i report to irs?
Yes it should be an expense to you. You should use a Schedule C to report the income that you earned form your art sales and then your expenses you have (include the fee you pay to the promoter). The best program to help you generate the Schedule C is Turbo Tax self-employed: https://turbotax.intuit.com/personal-taxes/online/
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