PatriciaV
Expert Alumni

Get your taxes done using TurboTax

If you refunded the money for the cancelled orders, you should adjust the amount from Form 1099-K by that amount. 

 

The easiest way to find 1099-K in TurboTax Online is to find Tax Tools in the left column >> Tools >> Topic Search. Type in "1099-k", click the topic in the list, then Go. In TurboTax Desktop, use the Search box or Topic List found in the header.

 

  1. From the list of 1099-K's in your return, click Edit/pencil icon next to the once you need to work on.
  2. Continue to the page "Let's get the info from your 1099-K."
  3. Click the box for "This amount in box 1a is too high..."
  4. Enter the amount of the cancelled orders in the box that appears as a positive number.
  5. Continue back to the 1099-K summary page to save your entries.

TurboTax will adjust the box 1a income for the adjustment amount you entered.

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