I am trying to help my daughter do her taxes, which includes selling LuLaRoe clothing...
There is an option for Business Income; Forms 1099-MISC & 1099-K, gross receipts, sales. When I pick that option, It does have a place for 1099-MISC forms, but not for 1099-K. Since it said in the "Learn More" screen the words "... such as ... ", I assume that the 1099-K data can (should) be entered there. But when I fill in the data for the 1099-K form, the block titles don’t match the 1099-MISC.
For block 1, TurboTax asks for "Rents". The 1099-K form that I have lists block 1a as "Gross Amount of payment car/third party network transactions." Maybe this is close enough to call it a match, but ...
The 1099-MISC in TurboTax does not have a block 1b. The 1099-K form also has a block 1b which is labeled, "Card Not present Transactions", and there are figures in this block. How do I report this in Turbo Tax?
The 1099-MISC form in Turbo Tax lists block 2 as "Royalties", and the 1099-K lists this as Card Not Present transactions, which is not blank. How do I report this in Turbo Tax?
The 1099-MISC form in TurboTax lists block 3 as "Other Income". The 1099-K form lists this as, "Number of Payment Transactions". I sure don’t want to enter the number of transactions as income. How do I report this in Turbo Tax?
