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1099-K: does the amount shown in BOX 1A include sales tax collected? (paypal 1099-K)
I have a 1099-K for about $8000.00 from paypal. I'm wondering if they subtracted out the SALES TAX ( for united states sales tax for certain states ) from the box 1A total gross received amount? I've researched online and can't find an answer. I downloaded the 1099-reconciliation form ( which shows how paypal calculated the 1099-K values ) and from what I can see they INCLUDED the sales tax in that $8K number. So that would mean I get to report the sales tax as an expense in turbo tax deluxe right?
‎February 13, 2025
2:06 PM