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4 years ago

9

The only income Ramon needs to report on his Schedule C is his income from Form 1099-K, Payment Card and Third Party Network Tra

nsactions.
a. True
b. False

1 answer:

madreJ [45]4 years ago

8 0

Answer:

False

The statement stated above is not true.

Explanation:

Ramon needs to keep report into his Schedule C is his income from Form 1099-K is not only the entity but other aspects too along with Payment Card and Third Party Network Transactions.

Sole - Proprietors income is reported on their schedule C as a gross receipts that subjects to the tax related to the self employment.
It is the form used to prepare report on the payments received through different third party networks.

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3 years ago

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3 years ago

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Data provided in the question:

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