Question

1099K Reporting

Forum|Forum|1 year ago
March 22, 2025
1 reply
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I received a 1099K and reported the income. Later I was asked to enter business income that's not on a 1099-NEC or a 1099-MISC. Do I enter the amount from the 1099K here? If so aren't I double reporting?

D

DianeW777

Yes, you would be doubling the income, do not enter the income twice. If you have entered the 1099-K and the income is on your tax return there may be nothing else to do.

It depends on what the income was for that would allow us to provide more information about exactly how it should be reported. Review the information below to discover details that apply to your income.

If you sell goods, rent property or provide services - IRS 1099-K Information

You may get a Form 1099-K if you received payments through payment cards, payment apps or online marketplaces.

These transactions can include payments you received as a gig worker, freelancer or other independent contractor (self-employed). This may also include payments you received from selling items as a hobby.