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Investors & landlords
Yes, I do understand Schedule C does as that was the businesses that used electronic payments. I think the 1099-K reporting requirements on companies that process electronic payments didn't really understood the evolving world of excepting rents online through a "vendor" style platforms and therefore has created a kruwndum when filing taxes for rental properties. I have resolved this in my mind and will not enter it since it will not agree with my true income and I am not going to make up deductions the IRS has not sanction. Actually their instructions is to not report refundable Deposits as income, therefore there are no instructions to take a deduction for them and I'm not comfortable changing the long established Schedule E reporting requirements, it's why we have a Schedule E in the first place. What ever TT is trying to push I want no part of.