Thanks a lot, @KathrynG3. Super helpful. Quick follow up questions:
- In other words, enter Form 1099-K from E-Bay by itself. On the next line, enter the Rakuten Form you received, etc.
- The other services (Rakuten, Rebatekey) do not issue any government forms, and others (such as online surveys) are below the 1099-MISC threshold of $600-can I just pay tax on them as 'business income' by not excluding them?
- Any difference between your records and the forms you've received must be explained or you would have to pay tax on the amounts as reported on the forms less provable expenses. Keep in mind, government forms such as Form 1099-K or Form 1099-MISC have already been submitted to the IRS at the same time they were sent to you.
- How can I explain the difference at the time of filing, or do I file and wait for an audit?
