| Discussion Forum: Thread 333872 |
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| | | Author: | sweettiara27  | | Posted: | Jan 24, 2023 20:25 | | Subject: | Filing Taxes | | Viewed: | 154 times | | Topic: | Help | |
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| I am seeing if anyone can help, as I am a little confused about filing taxes.
This is the first time a received a 1099k from paypal. I know I need to file
but what form do I use to file. I do not have another job where I would get
a W2. I do have dependents though. Does it get filed all together on a form
1040? Or is another form used.
Any advice or direction would be great.
Thank you
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| | | | | Author: | peregrinator | | Posted: | Jan 24, 2023 21:08 | | Subject: | Re: Filing Taxes | | Viewed: | 62 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | I am seeing if anyone can help, as I am a little confused about filing taxes.
This is the first time a received a 1099k from paypal. I know I need to file
but what form do I use to file. I do not have another job where I would get
a W2. I do have dependents though. Does it get filed all together on a form
1040? Or is another form used.
Any advice or direction would be great.
Thank you
|
All goes together on a 1040 - the 1099-K from PayPal is counted just like a 1099-INT
from your bank or whatever.
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| | | | | | | Author: | sweettiara27 | | Posted: | Jan 25, 2023 14:38 | | Subject: | Re: Filing Taxes | | Viewed: | 44 times | | Topic: | Help | |
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| Thank you. I am just unsure how to file. I wanted to do it online but i dont
have w-2 through h and r block so it isn't letting me go any further.
I am really confused on this
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| | | | | | | | | Author: | SylvainLS | | Posted: | Jan 25, 2023 14:42 | | Subject: | Re: Filing Taxes | | Viewed: | 33 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | Thank you. I am just unsure how to file. I wanted to do it online but i dont
have w-2 through h and r block so it isn't letting me go any further.
I am really confused on this
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Can’t you ask someone at the IRS? Or an accountant?
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| | | | | | | | | Author: | jennnifer | | Posted: | Jan 25, 2023 14:48 | | Subject: | Re: Filing Taxes | | Viewed: | 43 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | Thank you. I am just unsure how to file. I wanted to do it online but i dont
have w-2 through h and r block so it isn't letting me go any further.
I am really confused on this
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https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
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| | | | | | | | | Author: | skratzer12 | | Posted: | Jan 26, 2023 09:03 | | Subject: | Re: Filing Taxes | | Viewed: | 47 times | | Topic: | Help | |
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| My suggestion is talk to an accountant. Mine told me a few things to think about.
1: remember all profits on here are taxed at 27 percent.
2: if you file a 1099 - f (I think its f) you can write off inventory and roll
it over in the next year.
Yes you can file a basic return but my suggestion is to go to a accountant and
pay there small fee. Its another cost but it definitely pays off.
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| | | | | | | | | | | Author: | Nubs_Select | | Posted: | Jan 26, 2023 11:04 | | Subject: | Re: Filing Taxes | | Viewed: | 41 times | | Topic: | Help | |
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| In Help, skratzer12 writes:
| | My suggestion is talk to an accountant. Mine told me a few things to think about.
1: remember all profits on here are taxed at 27 percent.
2: if you file a 1099 - f (I think its f) you can write off inventory and roll
it over in the next year.
Yes you can file a basic return but my suggestion is to go to a accountant and
pay there small fee. Its another cost but it definitely pays off.
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Or put it off until the last week possible then for several days go crazy doing
taxes and then file them and hope for the best 
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| | | | | Author: | wildchicken13 | | Posted: | Jan 25, 2023 15:00 | | Subject: | Re: Filing Taxes | | Viewed: | 71 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | I am seeing if anyone can help, as I am a little confused about filing taxes.
This is the first time a received a 1099k from paypal. I know I need to file
but what form do I use to file. I do not have another job where I would get
a W2. I do have dependents though. Does it get filed all together on a form
1040? Or is another form used.
Any advice or direction would be great.
Thank you
|
Use IRS free file fillable forms: https://www.irs.gov/e-file-providers/free-file-fillable-forms
Use Schedule C to calculate your profit. Then, report it on Schedule 1, Line
3 and Form 1040, Line 8.
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