Both entries should be reported as Other Reportable Income. Follow these steps to record the incorrect 1099-K:
- Add more income by scrolling down to the last option, Less Common Income, and Show more
- Scroll down to the last option, Miscellaneous Income, 1099-A, 1099-C, and Start
- Choose the last option, Other reportable income and Start and Yes
- Enter the applicable description and amount and Continue
- First, enter Form 1099-K as received.
- For a description, include Form 1099-K and Form 1099-K Received in Error
- Next, in other reportable income also, enter an adjustment to reflect the cost of these items as an offsetting, negative amount up to the amount of the income.
- For the cost description, include Form 1099-K and Form 1099-K Received in Error
@Juser
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
This answer has been verified for accuracy by an Intuit expert employee
