How will the Amended 1099-k provided by PayPal be reported to IRS? will PayPal report it or should I do it for filing Form 1065. If I need to do, how will I do it ?
PayPal gave me 1099k on my name and SSN instead of my business name and EIN. Now they are going to send me an updated on with EIN. I want to know if this update will be reported to IRS. I’m Waiting for filing form 1065 and I’m not sure if I need to anything from my end to report this change to IRS.
12509
2 Replies
AliciaP1
Expert Alumni
Mar 9, 2022 6:08:59 PM
If you have reported on your Form 1065 all the income associated with the 1099-K, you are good to file. If the IRS inquires regarding the difference, you can show that you included the income appropriately on the return in the first place.
savasasa
Level 2
Mar 9, 2022 6:45:48 PM
That’s great!! Thank you very much for your quick response.