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Get your taxes done using TurboTax
If you are entering income from a 1099-K, remember that it reports the gross amount ($19.95) of the transactions. It doesn't include any adjustments ($16.00) for credits, refunds, discounts, or fees. You’ll have a chance to enter self-employment expenses in another part of your return.
In the Other Self-Employed Income section, enter:
1099-K gross $19.95 - then add another row and enter
1099-K adjustments $ -16.00 (use a negative)
Keep detailed records in case of any inquiries.
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January 29, 2020
1:41 PM