chogge
New Member

How to file 1099K payment card and third party netwoprk transactions for Sub s Corp when amount is part of total sales

My Sub S Corp service business received a 1099K "Payment Card and Third Party Network Transactions" from the credit card company. The amount on the 1099K is already shown in the total sales for the business. How do I account for the 1099K without "double counting" that as income?