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New Member
posted Jun 19, 2019 7:40:34 AM

1099k

I am having trouble accessing the home page to enter in my 1099k

0 5 1339
5 Replies
Level 15
Jun 19, 2019 8:00:01 AM

See this TurboTax support FAQ for entering a Form 1099-K - https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-1099-k-in-turbotax-online/01/26765

 

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.  

 

 

This will take you back to the 2018 online tax return.

New Member
Feb 7, 2020 1:22:01 PM

Is a 1099K able to be used as a QBI??

Expert Alumni
Feb 7, 2020 1:31:08 PM

Yes, depending on what you were paid for, and how you reported the income.  

 

For example, if the 1099-K is entered as income on a Schedule C as self-employment income, then the net income from that self-employment would figure into the QBI calculation.

 

@smothertucker

Level 3
Feb 8, 2020 12:24:33 PM

If one receives 1099-K from a clearing house for Bitcoin and there is a capital gain relative to the amount that initially went in, can one manually enter this as Cap Gain in Schedule D?   Thanks

Expert Alumni
Feb 9, 2020 11:02:19 AM

I do not recommend making direct entries into individual forms.  It is better to post in the step by step area and then view FORMS to confirm the result.  A 1099-K does not have a specific area to enter it.  It is included in other income.  Therefore,  you will post your bitcoin information in the investment area.

You should go to:

  1. Income
  2. I'll choose what I work on
  3. Scroll down to investment income
  4. Select Stocks, Mutual Funds ...
  5. Yes you sold investments
  6. No you did not get a 1099-B
  7. Select Everything Else
  8. Post dates and values