RaifH
Expert Alumni

Get your taxes done using TurboTax

You will want to enter both forms into your tax return just as they have been reported to you. You enter the 1099-K and Form W-2G in Less Common Income following the steps @LeonardS outlined above. 

 

After you have entered both forms in their entirety, you can enter a negative value in the Miscellaneous Income section of Less Common Income for the amount reported on your W-2G. That way it is only being taxed once. It will be reported once on your W-2G, once on your 1099-K, and then one of those will be subtracted from your taxable income by entering the value as a negative in Less Common Income. 

 

 

@Tee99