A 1099-K isn’t really income thought - it’s deposit. If I deposit 10,000 and I withdraw $10,000 without even playing - I would get a 1099-K for $10,000 but that’s not really income. It’s very confusing as winnings should only be defined on a W2G and 1099-K really is only defined as a transactional report / not actual income. I don’t have any winnings to report. I read that I could get it the number in when I file my taxes and back it out with a negative number because it’s not really income. It’s very confusing for everybody involved. I’ve read a few forums about it and haven’t seen the right / good way to handle this.
