| Discussion Forum: Thread 316311 |
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| | | Author: | sweettiara27  | | Posted: | Jan 26, 2022 17:03 | | Subject: | Filing Taxes | | Viewed: | 158 times | | Topic: | Help | |
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| Hello,
I was wondering if anyone can help with how to go about filing taxes? This is
the only income I have and I have two dependents. I believe I file it all together.
What do I need to file? Something from Bricklink, Paypal and Stripe, or just
from Bricklink plus my expense receipts, I am guessing.
Any info would be great
Thank you
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| | | | | Author: | pureoil66 | | Posted: | Jan 26, 2022 17:13 | | Subject: | Re: Filing Taxes | | Viewed: | 66 times | | Topic: | Help | |
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| To start, Paypal has issued 1099-K's, I think as of today, and then you would
get the same report from Stripe showing how much funds you received. (this is
what they report to the IRS that you received).
Then you can take all your business expenses to apply against that income.
Granted I am no CPA, but that is how I was going to start and then hand it over
to my tax professional and let them guide me from there.
In Help, sweettiara27 writes:
| | Hello,
I was wondering if anyone can help with how to go about filing taxes? This is
the only income I have and I have two dependents. I believe I file it all together.
What do I need to file? Something from Bricklink, Paypal and Stripe, or just
from Bricklink plus my expense receipts, I am guessing.
Any info would be great
Thank you
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| | | | | Author: | SasquatchBricks | | Posted: | Jan 26, 2022 21:42 | | Subject: | Re: Filing Taxes | | Viewed: | 41 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | Hello,
I was wondering if anyone can help with how to go about filing taxes? This is
the only income I have and I have two dependents. I believe I file it all together.
What do I need to file? Something from Bricklink, Paypal and Stripe, or just
from Bricklink plus my expense receipts, I am guessing.
Any info would be great
Thank you
|
Each state is different, you should probably consult an accountant or if you
use a tax service like HR Block etc.. I think you may get wrong advice in the
forum which could lead to major issues with the IRS or you state. So please consult
a professional.
Scott
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| | | | | Author: | wahiggin | | Posted: | Jan 26, 2022 22:00 | | Subject: | Re: Filing Taxes | | Viewed: | 40 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | Hello,
I was wondering if anyone can help with how to go about filing taxes? This is
the only income I have and I have two dependents. I believe I file it all together.
What do I need to file? Something from Bricklink, Paypal and Stripe, or just
from Bricklink plus my expense receipts, I am guessing.
Any info would be great
Thank you
|
I use TurboTax Home and Business for mine. Keep all receipts for your expenses.
I print out copies of PayPal, Bricklink, and postage too.
Wesley
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| | | | | Author: | MidwestBrick | | Posted: | Jan 26, 2022 22:07 | | Subject: | Re: Filing Taxes | | Viewed: | 55 times | | Topic: | Help | |
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| In Help, sweettiara27 writes:
| | Hello,
I was wondering if anyone can help with how to go about filing taxes? This is
the only income I have and I have two dependents. I believe I file it all together.
What do I need to file? Something from Bricklink, Paypal and Stripe, or just
from Bricklink plus my expense receipts, I am guessing.
Any info would be great
Thank you
|
https://www.irs.gov/pub/irs-pdf/p17.pdf
Some night time reading. Good luck
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USA, Texas
