Has anyone had issues with sales tax being included on their 1099-K? My platform reports the full transaction amount including sales tax on the 1099-K, but the sales tax isn't actually my income since I remit it to the state. Should I still report the full 1099-K amount on Schedule C and then deduct the sales tax portion as an expense?

I went through this exact same situation last year with my consulting business. I had multiple 1099-Ks from different payment platforms totaling about $15K, but my actual business income was much higher since I also received direct payments and checks. The key thing to remember is that you report your TRUE total business income on Schedule C Line 1 (gross receipts), not just what's on the 1099-Ks. The 1099-K is just third-party verification of some of your payments - it doesn't limit what you can report as income. When you enter the 1099-K information in your tax software, it's mainly for IRS matching purposes. The software should automatically include those amounts in your Schedule C totals rather than creating separate income categories. Just make sure your Schedule C gross receipts line reflects ALL your business income for the year, including the $9,500 from that 1099-K plus everything else you earned from your reselling business. One tip: keep detailed records showing how your 1099-K amounts tie into your total reported income. This helps if the IRS ever questions the numbers during their automated matching process.

I've been dealing with this same issue for months! The fee discrepancy between what's advertised and what's actually charged is incredibly frustrating, especially when you're trying to budget for quarterly payments. What really bothers me is that these payment processors seem to have zero incentive to be transparent about their actual fee structure. I've started keeping a spreadsheet tracking the real fees I get charged versus what was advertised, and the differences are significant - especially for business cards. One thing I learned the hard way is to always complete a test transaction for a small amount first (like $1) to see what fee structure you'll actually be charged before making your full quarterly payment. Yes, you'll eat the fee on the test transaction, but it's better than being surprised by hundreds of dollars in unexpected fees on a large payment. Has anyone had any luck disputing these fee discrepancies with their credit card company? I'm wondering if there's any recourse when the advertised rate is significantly different from what you're actually charged.

This is exactly why I've started using a completely different approach for my estimated tax payments. Instead of dealing with these confusing processor fees, I set up automatic withdrawals through EFTPS (Electronic Federal Tax Payment System) directly with the Treasury. It's completely free, pulls directly from your bank account, and you can schedule payments in advance for all four quarters at once. No surprise fees, no card restrictions, and no worrying about whether you're getting the advertised rate or some hidden higher fee. The only downside is you don't get credit card rewards, but honestly, the peace of mind and predictability is worth more to me than chasing points and dealing with these fee discrepancies. Plus, you can still use your credit cards for other spending to earn rewards without the hassle of navigating these payment processor games. For anyone interested, you can set it up at eftps.gov - it takes about a week to get verified initially, but once you're set up, quarterly payments are completely automated and stress-free.

I've been through this exact situation multiple times and can offer some reassurance. The status flip from "approved" to "pending" in TurboTax is actually pretty common during the final 24-48 hours before your refund is deposited. What's happening is that TurboTax's system sometimes can't distinguish between the final processing stages at the IRS. When your refund moves from "approved for release" to "sent to your bank," there's a brief period where TurboTax might show it as pending again because the status codes change in their system. Since the official IRS "Where's My Refund" tool still shows approved with your Feb 13 date, that's the status you should trust. The IRS tool pulls directly from their processing systems, while TurboTax is essentially making educated guesses based on periodic data updates. I'd suggest checking your bank account first thing tomorrow morning - most direct deposits from the IRS hit accounts between midnight and 6 AM. Even if TurboTax never updates back to "approved," your money should still arrive on schedule. Don't stress too much about the TurboTax display - focus on what the IRS is telling you directly.

I had this exact same issue last month! The status flip from "Approved" back to "Pending" in TurboTax is actually quite common and usually nothing to worry about. What matters most is what the official IRS "Where's My Refund" tool shows - and since yours still displays "Refund Approved" with the Feb 13 date, you should be in good shape. TurboTax's tracking system sometimes gets confused during the final processing stages when the IRS is preparing to send your refund to your bank. Their system doesn't always sync perfectly with the IRS databases, especially during high-volume periods. I'd recommend checking your bank account early tomorrow morning - most IRS direct deposits hit accounts between midnight and 6 AM. Even if TurboTax never updates back to "approved," your refund should still arrive as scheduled. The IRS system is the authoritative source, so trust what they're telling you over TurboTax's display. If for some reason the deposit doesn't appear by end of day tomorrow, give it one more business day before getting concerned, as banks can sometimes take 24-48 hours to fully process IRS deposits. But based on your description, everything sounds like it's proceeding normally - just with a glitchy third-party tracker!

If you're getting a 1099-K from PayPal, remember that it will show the GROSS amount of all money received without distinguishing between taxable income, personal transfers, or reimbursements. You don't necessarily owe taxes on the entire amount shown on the 1099-K! The IRS knows that 1099-K forms often include non-taxable transactions like: - Money sent by friends/family - Reimbursements for group purchases - Transfers between your own accounts - Returns/refunds You're responsible for determining which portions are actually taxable income. Keep good records of what each payment was for so you can properly categorize them at tax time.

Great question! I was in a similar situation last year and learned that PayPal survey payments can be tricky to navigate. Since you mentioned making around $800, you're likely below the $600 threshold for receiving a 1099-K from PayPal in 2024, but that doesn't mean the income isn't taxable. The IRS considers survey rewards as taxable income regardless of whether you receive tax forms. Since you're doing this casually rather than as a structured business, you'd typically report it as "other income" on Schedule 1 of your tax return rather than self-employment income on Schedule C. This saves you from paying the additional 15.3% self-employment tax. Make sure to keep records of your survey payments - screenshots of PayPal transactions or emails from survey companies work well. Even though $800 might seem small, it's always better to report it correctly than risk issues later. The IRS has been paying more attention to digital payment platforms lately, so proper documentation is key.

@f14aaa367bcb Don't worry, you're definitely not alone in this confusion! I went through something similar when I first started filing my own taxes. Here's a quick way to check if you need that 1095-A: Look at how you pay for your Molina insurance each month. If the premium gets deducted directly from your paycheck, you probably got it through your employer and don't need a 1095-A. If you pay Molina directly (like through their website or by check), you might have bought it outside the marketplace and also wouldn't need the 1095-A. But if you remember getting any kind of financial help to lower your monthly premium when you signed up, or if you qualified for reduced copays/deductibles based on your income, then you probably went through the marketplace and would need that form. The good news is that if you DID go through the marketplace, your 1095-A should be available online even if they never mailed you a physical copy. Try logging into Healthcare.gov or your state's exchange website - if you have an account there, that's a pretty clear sign you went through the marketplace. Hang in there! This stuff is confusing but you'll figure it out. And honestly, once you get through your first year of filing, it becomes so much easier to handle. 👍

@f14aaa367bcb I completely understand your frustration! The 1095-A situation trips up so many first-time filers. Here's the simplest way to figure this out: Check your insurance card or any Molina paperwork you have. Look for these specific things: 1. If you see "QHP" (Qualified Health Plan) anywhere, you likely got it through the marketplace 2. If it mentions "Metal Level" (Bronze, Silver, Gold, Platinum), that's also a marketplace indicator 3. If you see any reference to "APTC" (Advance Premium Tax Credit) or subsidies, definitely marketplace If your paperwork just shows basic Molina info without any of those terms, you probably bought directly from them or got it through another program. Also, try this: Go to Healthcare.gov and click "Log In." If you can successfully log in with an email/password you recognize, and you see a Molina plan listed there, then yes - you went through the marketplace and should have received a 1095-A. If you can't log in or don't see any plans there, you're probably in the clear and can skip that section in your tax software. The software asks everyone about 1095-A forms just to cover all bases, but tons of people don't actually need them. You're doing great tackling this yourself - the first year is always the hardest! 🙂