1099k sales taxes included as gross amount
Does anyone knows why is the sales taxes included as a part of the gross amount on the 1099k for 2024? Do I have to pay taxes over sales taxes that are already collected and sent to the department of taxation? Im in NY. Any help will be truly appreciate.
4 replies
Seller_nRFmxiQg4EGrw
Nope. Amazon does this every year; no other marketplace includes the taxes.
No, you can find the amounts on page 2 of the form, and can deduct them on Schedule C.
Disclaimer: I am NOT a tax professional. If you are unsure about how to file or report your income, consult a true professional (not one of the new guys in the Pop-Up shops you see spring up this time of year; seek one with experience).
Seller_WBnGS7Ix3XiDX
Im in NY also. My accountant also deducts that amount from my sales.
You can deduct a few things, but definitely point out to your accountant or tax preparer to deduct the taxes. Its listed separately at least.
Seller_xo4Akj7FBBnfC
Please see this PREVIOUS POST that covers the topic in detail.
