Investors & landlords

You received a 1099 and an IRS form 1099-K, each reporting the same $43,000 gross income from TikTok.

I presume that you are reporting this income on Schedule C as a self-employment activity.  If that is correct, report both of the gross income sources within the self-employment activity.  Report the 1099 income under the appropriate Form 1099.  Report the IRS form 1099-K under Form 1099-K.

Then under Expenses, select Add expenses for this work.  Select or create an expense to 'back out' the $43,000.

Within your tax records, maintain a clear record of how the transaction was handled should a tax authority have a question about this transaction at a later time.

If you are not reporting a self-employment activity, post again.