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Thanks for your answer. Just to clarify, are you suggesting that I state “1099-k received in error” on Schedule 1 or were you talking about something else? Also, how unlikely is it for IRS to question this 1099-k error that is around 20k? I am asking this because if my letter wouldn’t be read and I can’t change the form, I am not sure how else I can explain the situation. I don’t want to pay taxes on something that isn’t taxable income but I am also worried about getting audited and receiving penalties later on if they won’t read or accept my explanation.
January 26, 2025
10:39 PM