turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Already filled my taxes for 2016 and recived letter from Etsy that they sent me 1099-k with a difference less than $100 what should I do?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
WillK
Intuit Alumni

Already filled my taxes for 2016 and recived letter from Etsy that they sent me 1099-k with a difference less than $100 what should I do?

If you already filed your return with the business income reported, you will need to file an amended return to report the 1009-k monies on it, and allocate the business income to match. If you already filed your return without reporting the business income, then you need to file an amended return to report the business income/expenses.

If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected you are able to login to your return add the missing W-2, fix the errors that caused the rejection and refile the return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.
Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.  
Amended returns have to be printed and filed by mail.  It can take the IRS up to 12 weeks or longer to process them.   If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. Click here for amending instructions:
https://ttlc.intuit.com/replies/3288565 

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

View solution in original post

1 Reply
WillK
Intuit Alumni

Already filled my taxes for 2016 and recived letter from Etsy that they sent me 1099-k with a difference less than $100 what should I do?

If you already filed your return with the business income reported, you will need to file an amended return to report the 1009-k monies on it, and allocate the business income to match. If you already filed your return without reporting the business income, then you need to file an amended return to report the business income/expenses.

If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected you are able to login to your return add the missing W-2, fix the errors that caused the rejection and refile the return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.
Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.  
Amended returns have to be printed and filed by mail.  It can take the IRS up to 12 weeks or longer to process them.   If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. Click here for amending instructions:
https://ttlc.intuit.com/replies/3288565 

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies