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tracy-leit
January 19, 2025
Question

Where do I list the city sales tax I am required to collect but that showed up as gross on 1099 K

  • January 19, 2025
  • 1 reply
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    1 reply

    M
    MinhT1
    January 19, 2025

    You have to remit the city taxes to the tax authority you collected from your customers and included in the amount reported on your form 1099-K.

     

    On your tax return, you'll report the gross amount as income and the city taxes to remitted as expenses. 

     

    Enter the taxes under Taxes and licenses, on Schedule C if you are self-employed, on form 1065 if you file as a LLC or partnership, or form 1120S if you ile as an S-corp.  

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