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Level 1
December 7, 2019
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I have a client (self-proprietor) that owes a market store, he has a wiring money service (like Western Union) in schedule C where do I report that money & how

  • December 7, 2019
  • 3 replies
  • 16 views

Mr self-proprietor mixed his Store Market money along with wiring money, so is hard to trace incoming money, how do I report to IRS on schedule C 

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Best answer by IRonMaN

If you are in one of those nasty states that clips you for taxes based on gross receipts, I would net the ins and outs for the Western Union transactions. 

3 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

If you are in one of those nasty states that clips you for taxes based on gross receipts, I would net the ins and outs for the Western Union transactions. 

Slava Ukraini!
abctax55
Level 15
December 7, 2019
Good point
HumanKind... Be Both
abctax55
Level 15
December 7, 2019

Income is income is income....

I don't see any need to separate the *types* of income on the tax return.

HumanKind... Be Both