Alen
Level 3

Get your taxes done using TurboTax

Hey @chucster I can relate to that too

I would've been under the 600 dollar threshld for my state's paypal 1099k threshold, but somebody refunded me a payment. So i technically received less than 600 for the year but that refund ended up kicking me over the 600.

 

From a bookkeeping/accounting perspective, it does make sense actually that even a refunded transaction contributes to your GROSS "income", but i wish it had canceleled out somehow

 

anyways its a goood learning opportunity 

 

in response to people above, i ended up watching some viedos from a youtuber named jason d knott about how to file 1099-k for gains and losses and basically it involves entering the 1099k info into turbo tax, then entering some more info to clarify but ultimately if its personal loss (in most of our cases).. the information we give turbotax ends up getting spit onto a form 8949 and the amounts there automatically flow into a schedule D