Skip to main content
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
  • 0 views
No text available

1 reply

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.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"