Get your taxes done using TurboTax

Follow these instructions provided by @DaveF1006

To enter:

1. Go to wages and income>less common income. 
2. Go to Miscellaneous Income, 1099-A, 1099-C
3. Go to Other reportable income
4. In the description field, enter 1099k income. Paypal receipts for return of capital. put in the amount of the 1099K.
5. After entering this, there will be a summary page that appears.  Select add another miscellaneous income item. 
6. Here put in the description 1099K is for the return of my investment. There was no income earned and enter a negative number for the amount of the 1099K. 
7. What this does is show the positive and negative amounts on line 8Z, which cancels out the income. 
8. Be specific in your description fields for both of the miscellaneous income entries so the IRS will see how you justify this isn't taxable income. You will to make clear that this is for the return of your capital and that none of it is PayPal income.

Original post: How do I enter something on Schedule I, Line 24z?