@Anonymous wrote:
I just spoke with the credit card processing company (Square). After 30 mins on the phone and explaining everything, they acknowledged the error. However, they told me it is there policy NOT to correct 1099k forms. They told me I had to address it with a tax professional. So the option to get a corrected 1099k form is out.
As far as a letter of explanation do I just write a letter and put it as the last page on the tax return?
You can't attach explanations to tax returns using Turbotax or Turbotax business. This seems to be a policy decision by Intuit to not allow attachments in their consumer-level products because PDFs can be attached when using Intuit's ProSeries software.
An attachment to a paper return may become lost.
I repeat my suggestion to have your return filed by a tax professional and let them deal with it for you.
I also suggest that you go back to Square and (a) get their refusal to issue a corrected 1099-K in writing, and (b) take your business elsewhere.
