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Investors & landlords
It's not about "forbidden" strange use of words. Why give people tax reporting instructions that clearly are not instructions approved by the IRS? Just trying to make it fit somehow is not doing tax preparers justice. This is the instructions on the 1099-K: The amount in box 1 of your 1099-K should be reported under gross receipts on your Schedule C. The 1099-K has been around a long time and has never been reported on a Schedule E. Schedule E vs Schedule C have very different business models and likewise have very different tax reporting requirements.
‎December 2, 2022
10:44 AM