KrisD15
Expert Alumni

Get your taxes done using TurboTax

You can adjust the taxable amount of income on Form 1099-K but you also need to keep documentation of what the transactions were if not income. 

If the 21,000 represents gifts from one person, that person should also file a "Gift Tax Return" although that would not be your responsibility. 

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post