Cost of revenue? I own a travel agency, and occasionally a client will pay me directly for a vacation package and then I pay the tour company a net amount, deducting my commission.
How and where to I report the amount I paid to the tour company?
Say a client pays me $1000 for a vacation package (gross income) and I deduct $100 for my commission (net income) how do I report the $900 paid to the tour operator? I am a sole proprietor LLC filing a schedule C.
Thank you for any help you can provide. |