USA RECEIVED 1099-K FORM FROM PAYPAL FOR EBAY SALES

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I received form 1099-K which reports the total amounts of sales I made on EBay for 2017. However, EBay and Paypal took a combined 12.9% + .30 for each transaction. I contacted Paypal and explained my situation and was told to consult a tax professional. Paypal won't be sending a revised 1099-K since that correctly lists the gross income. There is no net amount box on the 1099-K form. I'm not itemizing deductions so how would I go about reporting the correct net amount of the income I actually received?
 

Drmdcpa

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So many people confuse itemized deductions vs business deductions. You do not need to itemize to take business deductions.

It sounds like you are one of way too many stepping over dollars to pick up pennies by preparing your own return while not having a clue how to best do it.
 

AGH the CPA

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consult a tax professional
This.

It sounds like you're running a small busines so you will probably need to fill out a schedule C which is where you would itemize your BUSINESS related deductions (nothing to do with your personal itemizations)

You need to visit a tax pro if this very basic concept is outside of your kowledge base.
 

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