PayPal 1099k and TikTok

Forum|Forum|1 year ago
January 27, 2025
1 reply
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Hello! I am a creator on TikTok Shop and in 2024 have earned about $11k. The money I earn gets sent to my PayPal - then I withdrawal it into my bank account from there.

I received a 1099k from PayPal and believe I will be receiving a 1099 from TikTok as well.

When I file this year, will I have to add both forms to my tax sheet even though the PayPal one is the only amount I have earned? What will I have to do?

I know this may seem self-explanatory; however, I am uneducated in taxes and want to be prepared.

Thank you.

Not A Product Question

RobertB4444

When entering your information into the schedule C just enter the amount that you actually received. The 1099 from TikTok and the 1099-K from PayPal are for the same amount so the one form indicates how much was paid to you and the second form just indicates how it was paid to you. You don't need to enter the amount twice.

@Cj0777

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