Vanessa A
Expert Alumni

Deductions & credits

According to the IRS, if you receive an incorrect 1099-K, and the issuer will not correct it, you should take the steps below:

"If you received a Form 1099-K by mistake or if the form you received has incorrect information, contact the issuer of the Form 1099-K immediately. The issuer’s name appears in the upper left corner on the form along with their phone number.

If you can’t get a corrected Form 1099-K, report as follows:

Same as personal assets sold at a loss except changing the description as follows:

  • Part I – Line 8z – Other Income – Form 1099-K Received in Error
  • Part II – Line 24z – Other Adjustments - Form 1099-K Received in Error"

 

Also, since your SSN was used, you  may want to contact the IRS to deal with any Identity theft issues that may arise. 

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