Hello, I am trying to find out how to report consignment income (or should I say to reduce my personal income / tax responsibility) that is reported by me as Gross Sales, but is actually paid out by me to the people for whom I sell on eBay.
I can find nothing on IRS Schedule C (form 1040) that tells me where to show income that has been paid to me, but that I in turn pay out to my consignors.
Can anyone comment on how to handle this?
Thanks! Pam