Forgive me if this was asked before, but I received a 1099k from PayPal due to sports book winnings, but not a W2G. I won about $5k and the 1099k says I won about that too. I initially filed my taxes using my net winnings and did not include the 1099k information. In my initial taxes I only listed the net winnings, which was about $1100.00. I know this is wrong. I will be amending my taxes.
My question is how to identify this as gambling and acknowledge the 1099k. Please advise as to the correct steps. I am afraid to change the gambling to zero and enter the $5k as other.
Thanks,
Mike
