How should I report earnings from Apple (from selling mobile applications in the App Store) in 1040 form in USA? I'm permanent resident of USA.
- Can I fill Form 1040 with Schedule C as individual without registration of any business like sole proprietor, LLC, etc.?
- Will I be able to write off 30% of Apple's commission as expenses when report 1040 form as individual?
- Will I be able to write off expenses like home office and medical insurance when report 1040 form as individual?
- How should I calculate income and commission for sales worldwide? Apple write all values in original currency. It's hard work to calculate them in US dollars.
- What rate of exchange should be used? Apple write not accurate rates for some currencies. So I suggest we should not use them.
Thanks to all for the help.