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After you file
@RBBrittain is correct. You must report and then explain - subtract. If you truly had no business or earned income, you will report the 1099K and then report a negative amount under other income.
Follow these steps:
- Go to Federal section
- Scroll down to Less Common Income
- Select Miscellaneous Income, 1099-A, 1099-C selection
- Select Other Reportable Income, START
- Any other taxable income, select YES
- Enter description, 1099k not taxable
- Enter the NEGATIVE amount in the box next to your name.
- Click Continue
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‎January 27, 2022
5:10 PM