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1099k that includes winnings
I’ve seen a similiar question but didn’t understand it for my situation. I received a 1099-K from PayPal. 12500 of the 13500 is from Sportsbook winnings which were several small amounts that didn’t generate at W-2G. If I enter the 1099K and label it as PayPal then enter the 13500 in box 2a of 13500, how do I then claim the losses which is more than that amount. Then the other $1000 which was money received from selling a fish finder on market place. I know I can enter gambling winnings and losses under other income but then what do I do with the 1099-k since it ask for the amount in box 2a. I have all my documentation but just want to make sure I enter it correctly. Thanks
March 5, 2022
2:18 PM