I received my 1099-K, for the 2022 tax year, from a marketplace where I sell my digital product. They are a Third Party Network. They take 12% of all the payments I receive through them.
In the field on my 1099-K where it says “1a Gross amount of payment card/third party network transactions”, the amount they have there is the same amount of money I received to my bank account after they took their 12% (which would not be the gross amount, to my understanding). Shouldn’t the amount in that field be the 100% of the payments, before they took their 12%?
That was the case for 2021’s 1099-K from them, it was the gross of the 100%, before they took their cut, then I just listed the 12% marketplace fee as a deduction on my return for 2021.
2021’s 1099-K had the gross amount before they took their 12% for that year, in that field. 2022’s 1099-K had the amount after they took their 12% for that year, in that field. So my question is, which is correct...cause they both can’t be, right?
Thank you for any help you can offer,
Aaron
