JeffreyR77
Expert Alumni

Get your taxes done using TurboTax

It depends.  Your reported revenue needs to be at least the amount reported by the total of the Paypal and Stripe 1099-Ks.

 

If the Paypal and Stripe 1099-K statements report more transactions than the gross revenue amount you reported you can expect a letter from the IRS for unreported income.  

 

Please clarify the business entity you had in 2019. 

 

TurboTax Home and Business does not support S-Corporations. 

 

You also should ensure Paypal and Stripe are reporting under the proper business EIN and not under your social security number.