When you report form 1099-K you are reporting an income. If you didn't have any tax withheld on that form or you didn't have enough taxes withheld, you have to pay taxes when you file your return . Also the Income is considered self employment income so you have to pay the Self employment Tax.
If you are entering income from a 1099-K, remember that it reports the gross amount of the transactions. It doesn't include any adjustments for credits, refunds, discounts, or fees. You’ll have a chance to enter self-employment expenses in another part of your return.
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