I reopened my store for a while this year and I can't find the tax form
anywhere. Does anyone know where to find them (USA).
Also, I keep hearing this as using sales tax as a deductible on the forms, is
this true?
Thank you and take care,
Mateo L
1099s would be at PayPal and/or Stripe, if you received $600 or more in payments.
At least PayPal reports the Partner Fee/sales tax as income, so you would then
deduct it as an expense. It won't show on your 1099 as a deductible
(I don't think - that's not what 1099s do).
While the threshold was previously $600, the federal requirement for 2024 is
over $5,000, returning to the original $20,000/200 transaction rule for 2025
and beyond, though states may have lower thresholds.
In Taxes, peregrinator writes:
In Taxes, MateoLI writes:
Hello, I hope all is well for all.
I reopened my store for a while this year and I can't find the tax form
anywhere. Does anyone know where to find them (USA).
Also, I keep hearing this as using sales tax as a deductible on the forms, is
this true?
Thank you and take care,
Mateo L
1099s would be at PayPal and/or Stripe, if you received $600 or more in payments.
At least PayPal reports the Partner Fee/sales tax as income, so you would then
deduct it as an expense. It won't show on your 1099 as a deductible
(I don't think - that's not what 1099s do).
While the threshold was previously $600, the federal requirement for 2024 is
over $5,000, returning to the original $20,000/200 transaction rule for 2025
and beyond, though states may have lower thresholds.
Good to know. I don't know the threshold that PayPal or Stripe uses to generate
a 1099, and in any case you should report the income (and deduct the expenses)
whether a 1099 is generated or not.
USA, Illinois
