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Level 2
posted Feb 11, 2025 3:59:46 PM

1099k included in gross receipts on schedule c

While preparing my 2024 taxes, I realized there is a place to enter information from a 1099k. In the past, I’ve included the sales reported on my 1099k in the total of gross receipts on my schedule C. 

I assume it should not be included there but entered along with forms like the 1099-NEC, etc. 

 

Should my past returns be amended to include the form 1099k even though the income was reported—but maybe not in the right place?

 

I don’t want to put myself at a risk for an audit or scrutiny by leaving it out/nor by amending. Any advice is appreciated. 

0 3 2052
3 Replies
Expert Alumni
Feb 11, 2025 4:03:02 PM

No, you reported the income properly. As long as the total income on the schedule C is not less than the total reported on the Forms 1099-K you will be in compliance with IRS rules.  

Level 2
Feb 11, 2025 4:23:19 PM

Thank you for your help. Going forward…would you recommend entering it as form 1099k income or just continue including it in gross receipts as I have?

Expert Alumni
Feb 11, 2025 4:25:05 PM

I would recommend you continue as you have been doing, as it will be less work not having to enter in the Form 1099-K.