Question

How do I enter my 1099-k if the transactions were already included in my sales portion of my taxes?

Forum|Forum|5 years ago
February 18, 2021
1 reply
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I received a 1099-K from PayPal from credit card transactions. Those transactions were from the sales of products. I entered my sales on the income portion of turbo tax. How would I go about making sure to not get taxed on the 1099-k if it's already reported as income?

TurboTax Online

M

MinhT1

If your transactions reported on form 1099-K are already reported as sales on your tax return, you simply do not enter form 1099-K on your tax return. Just keep that form in your tax records along with any proof that these transactions are already reported as sales on the tax return.

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