ToddL
New Member

Retirement tax questions

You don't need to do anything with this 1099-K for your tax return - ignore it.

As gifts, these payments are not considered income - for tax purposes or anything else.

 Form 1099-K, like all 1099 Forms, is an information return. If it doesn't reflect income, you don't need to account for it on your tax return. 

(If it did reflect income (e.g. online sales), you would need to account for it elsewhere on your return).

(There isn't even a place to enter Form 1099-K on your tax return).