Author Topic: Deductions on Ebay/Amazon/Paypal/Stubhub etc fees?  (Read 3229 times)

jeromedawg

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Deductions on Ebay/Amazon/Paypal/Stubhub etc fees?
« on: January 28, 2015, 04:47:44 PM »
Hi all,

I was wondering if I can deduct all the fees that were charged to me from Ebay, Amazon, Paypal, Stubhub in the past year. I'm not a huge volume seller (not over $20k or whatever the limit is per Ebay at that point).

If it's possible to deduct, where and how exactly is this done? I've read Schedule C is the place to do it. I'm using TaxAct and noticed I have to add a business entity in order to file a Schedule C though.

Anyone know more about this?

jeromedawg

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Re: Deductions on Ebay/Amazon/Paypal/Stubhub etc fees?
« Reply #1 on: January 28, 2015, 04:50:50 PM »
Same question as well for bank late and or subscription fees and credit card annual fees as well.

Weedy Acres

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Re: Deductions on Ebay/Amazon/Paypal/Stubhub etc fees?
« Reply #2 on: January 28, 2015, 04:59:27 PM »
Ebay/amazon/paypal: Only to the extent that you claim income from these sources.  The fees net against the income.
Bank fees, CC fees: only if these are business accounts. 
Subscriptions: only if they're to stuff that's related to your business....that you are claiming income from.

jeromedawg

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Re: Deductions on Ebay/Amazon/Paypal/Stubhub etc fees?
« Reply #3 on: January 28, 2015, 05:54:28 PM »
Is the 1099-K basically the form for "claimed income" from those sources?