No, there's a more appropriate place to enter this. With TurboTax Online open:
- Select Tax Home in the left pane
- On the Hi, let's keep working on your taxes! screen, select the dropdown to the right of Income & Expenses
- Select Start, Pick up where you left off, Review/Edit or Work on other income, as appropriate
- Scroll down and select the dropdown to the right of Other Common Income
- Select Start or Revisit to the right of Form 1099-K
- Answer Yes to the question, Did you get a 1099-K? (If you've already entered a Form 1099-K, select the Add a 1099-K box)
- Select Type it in myself on the How would you like to enter your 1099-K? page, then select Continue
- On the Which type of income your 1099-K is for screen, select Other, then select Continue
- On the Your 1099-K is ready for review screen, enter all information from your 1099-K. Check the box next to This amount in box 1a is too high or includes some personal transactions.
- In the box that generates, enter the amount that shouldn’t be included in your income
- Select Continue
