Got a 1099k for a payment received via Venmo

Forum|Forum|1 year ago
February 1, 2025
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I got reimbursed for concert tickets by a friend via Venmo ($800) last year. I just got a 1099-k because of this. This is not income so how do I deal with this form for taxes? I live in Virginia and read the cutoff now to get a 1099k is $600.

MindyB

Yes, you are correct in that you do not have to pay taxes on reimbursements from friends.

Here is how to report this in TurboTax Online:

Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
Choose Add a 1099-K
The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
Enter the information from your 1099-K
After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"