Friend sold some items on Etsy. Received a check and 1099 for the sale amount minus the commission. What forms must be filed that takes the cost of selling the items into account so she pays taxes on the gain only? Thanks

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AI accountant’s answer:

Great question! Your friend would use Form Schedule C, which will automatically generate on the Keeper Tax app. Schedule C will allow her to report her gross sales and the related commission expense so that she only gets taxed on the gain.

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Keeper is a delightfully smart tax filing software that's especially useful for people with 1099 contracting and freelance income. Our blog breaks down IRS guidance with real-world examples and analysis by tax professionals — empowering taxpayers to save money and take control of their finances.

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