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31 January, 10:43

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

a. True

b. False

+5
Answers (1)
  1. 31 January, 13:54
    0
    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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Home » Business » The only income Ramon needs to report on his Schedule C is his income from Form 1099-K, Payment Card and Third Party Network Transactions. a. True b. False
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