Yes, there is a way to enter this.
- Log into your account
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed. Call this 1099K Income Received in Error and report the income amount.
Once this appears in a summary screen, click on the Add Miscellaneous Income Item and then call it Reverse 1099K Income Received in Error and report the same income amount with a minus sign in front of the amount. The net result will appear on a form that is titled Other Income Statement and reported on Schedule 1, line 8.
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