nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

amazon 1099 nec

Elmw@ood@50

When, if ever, can amazon 1099 nec income be offset by COGS in same yeat

Find more posts tagged with

Schedule C

Comments

MatthewD

Hi Elmwood,

Are you doing delivery contracting for Amazon? If so, then you can't use cost of goods sold (COGS). COGS is used by a retailer who is either manufacturing a product or reselling purchased products.

Would you share details about why you got a 1099-NEC from Amazon.

Elmw@ood@50

Product reviewer who receives 1099 nec from amazon who writes off that income on Schedule C as cogs.

MatthewD

Hello Elmwood50,

So if you are purchasing items, then yes, I can see a COGS in your situation. On the Schedule C - Business Information page, answer YES that you have an inventory. Then continue and find the COGS section. You generally won't have a beginning or ending inventory, just purchases. Another option is to enter you purchases as a Miscellaneous Business Expense on the Common Expenses section as "Product Review Inventory" or something along those lines.

Elmw@ood@50

I think Viners receive products for free. I think the 1099 nec is in-kind income for Viners' reviews. But maybe I'm wrong.