Solved

How do I enter a 1099-K? I sold concert tickets for $941. I paid $500 for them. It wants me to enter $941 as self-employment and then upgrade Turbotax. Any other way?

Forum|Forum|6 years ago
March 13, 2020
1 reply
0 views

No text available

TurboTax Deluxe Online

Best answer by LeonardS

No, you will report the 1099-K amount as self-employment income on Schedule C Profit or Loss from Business. You will enter the $940 as income and your cost of $500 as an expense. You may use TurboTax Premium to prepare your Schedule C. To enter your information with TurboTax open, enter Schedule C in the search box then click Jump to Schedule C in the results window. Follow the prompts to enter your information.

LeonardSAnswer

No, you will report the 1099-K amount as self-employment income on Schedule C Profit or Loss from Business. You will enter the $940 as income and your cost of $500 as an expense. You may use TurboTax Premium to prepare your Schedule C. To enter your information with TurboTax open, enter Schedule C in the search box then click Jump to Schedule C in the results window. Follow the prompts to enter your information.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"