Javier is self-employed. In 2022, he earned income of $5,500 from one firm, reported to him on a Form 1099-NEC, and income of $4,000 from another firm, also reported to him on a Form 1099-NEC. In addition, he had $20,000 in credit card transactions reported on Form 1099-K. All of the income was related to his self-employment activity. What is the amount of gross receipts or sales that should be reported in Part I of the Schedule C for this activity? (NOTE: The amount reported as the gross amount for credit card transactions did not include any sales taxes that Javier collected and paid over to state and local governments.)

 

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The amount of gross receipts or sales that should be reported in Part I of th... View the full answer