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Deductions & credits
@Jen84 When you're doing your tax return the IRS expects you to include all of the income that you made for the year - including side hustles that are just for earning a little extra for paying bills. That is why the IRS changed the rules for issuing 1099-Ks for this year.
You'll need to upgrade to TurboTax self-employed in order to deduct the expenses that you had for the cards. Once you've upgraded the system will ask you about the business you had and guide you through entering the amount from the 1099-K and then the amount that you had in expenses for the year that you can deduct from the 1099-K amount.
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‎January 31, 2022
3:45 PM