When entering your 1099K information, you would be entering revenue (or income). Later, you can enter business expenses associated with the revenue (income) that will be deducted.
Steps for entering your 1099K:
If your self-employment income was only from cash,
personal checks, credit card payments, or cryptocurrency
Type Schedule C in the Search box and then select
the Jump to link. This will take you to
where you can enter any cash, personal checks, credit card payments, or
cryptocurrency (Form 1099-K) related to your self-employment. You may
first be asked some general questions about your business. After you answer
them, you’ll be taken to the Let's enter the
income for (your line of work) screen where you can enter this income as
Other self-employed Income.
