Kerry W. asked
In 2014, I had a dropshipping business on eBay where I earned $63,249 in revenue but only $8,000 in profit. I received a 1099-K from PayPal and a letter from the IRS requesting me to pay $24,973 in income tax based on the reported revenue. How can I prove to the IRS that I only earned $8,000 in profit and that the rest was business expenses?
December 27th, 2024
Amy W. answered
To address the IRS's request, you need to file an amended 2014 tax return with Schedule C and Schedu...
December 27th, 2024
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