DawnC
Expert Alumni

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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