LRay_EA
Employee Tax Expert

Self employed

When you receive a 1099-K this income for your business should be included in your income for the business. If your business is set up as a partnership only the actual income for the business will be reported on the partnership return.  Any expenses you paid out for the business will be included in your expenses specific to the type of work or product someone else provided you. If your filing a partnership return any money sent to your partner from you (if it's just splitting income) will not be added a second time into the partnership income. For more information on what a US Partnership return is see this helpful article: https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-forms/form-1065-u-return-partnership... . If you need information on how and what to file with the IRS for a partnership here is a great resource from the IRS: https://www.irs.gov/businesses/partnerships

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