I got a form 1099-k from paypal. The issue I have is that the amount its giving me for sales is off as I also have a couple payments that were sent from family and friends and a couple payments sent from a working capital company.
When Turbotax asks about the 1099k and the figure. I enter that but what do i do about the amounts that werent part of the business at all. I would be nervous if i entered a different figure than what appears on the 1099k would trigger flags for an audit. Is there any type of standard way of entering the non taxable income shown on the 1099k?
