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goldies3
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Rec'd 1099-K late from paypal/forgot to include it in taxes. Payment to me was in error & immediately refunded. Where do I include refunds on 1040X form?

Can't find turbotax option to file amended return.  Return was accepted by the IRS.  Bottom line, need to make sure IRS doesn't think I made the $5,950 as a sell.
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2 Replies

Rec'd 1099-K late from paypal/forgot to include it in taxes. Payment to me was in error & immediately refunded. Where do I include refunds on 1040X form?

See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...

Rec'd 1099-K late from paypal/forgot to include it in taxes. Payment to me was in error & immediately refunded. Where do I include refunds on 1040X form?

do not try to amend in this case since nothing is changing.

If IRS questions you , you can by your records easily show that the money was taken back by the payer.

 

IRS is not strictly enforcing the 1099-K rules yet  since there was so much pushback and confusion about it.

@goldies3 

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