Paypal sent a corrected 1099-K as having received $0.00 because the original reported my cash back ibotta earnings and should not have. Do I report this on my taxes?

Cash back from apps and or rebates isn't taxable. I sent most of my cash back from ibotta to paypal and they incorrectly sent me a 1099. They then sent another corrected 1099 with $0.00 in all boxes

254

Expert Alumni

Apr 26, 2021 7:40:32 PM

If you haven't yet filed your tax return, you don't need to do anything with the corrected 1099-K. If you've already filed and you did report the 1099 as income, you will need to amend your return to correct it.

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Paypal sent a corrected 1099-K as having received $0.00 because the original reported my cash back ibotta earnings and should not have. Do I report this on my taxes?