Yes, that is correct. If the income is being pulled in from accounting software financial statements, such as form QuickBooks Online, then allegedly, the bank feed would have already reported the proceeds from Form 1099-K. However, some owners prefer to enter in the income directly from Form 1099-K.
Click here for more details: How do I report income from self-employment?
For tips on how to enter Amazon reseller income and expenses, this TurboTax resource may be useful, as well: Tax Preparation Checklist
