Fiverr Forum

Cancelled Orders Business Loss?

I am new to US taxes, so I am curious, if someone purchased a gig for like, 20$, and then the buyer cancels, can that be regarded as a business net loss? If so, how would that work in regards to taxes?

If I earned 500$ from Fiverr, and someone cancels a 20$ order, so I claim my income was 520 but deduct 20$, or would I deduct 20$ off of the 500?

1 Like

@lucyodex first you have to know that you will not get whole amount , fiverr deducted 20% of your profit and if you total fiverr earning is 500 usd then you will get 400 usd and if someone then cancelled a order you will be deducted the order amount.

hope i am well to describe it. :slight_smile:

1 Like

I use my PP emails as a way to gauge how much I have earned for the year. I create a subfolder within my email program and each time I withdraw my earnings, the email goes in here. At the end of the year, I add it all up and get my total to input into my taxes.

Hope that helps.