You will need to enter your 1099-K as self-employment income and then list the expenses for the items purchased as expenses to offset the income. Be sure to include any fees PayPal may charge you for processing the reimbursements.
To enter your 1099-K into TurboTax Online you can follow these steps:
- Open or continue your return
- Search for Schedule C and select the Jump to link in the search results
- Answer the questions about your business. On the Let's enter the income for your work screen, select Other self-employed income
- If you’re returning to Schedule C, select Review or Edit next to your work and then answer the questions about your business
- On the Tell us about other self-employed income for your work screen, enter your 1099-K info
- Select Continue when finished
TurboTax will then walk you through adding expenses to the Schedule C.
@Drago12354
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