TurboTax Home & Business needs to be edited and we are requesting that. The main business income page should be showing $7,800 (in your example) on the 1099-K line. Also, line 1e on the Schedule C in Forms mode should sum lines 1a thru 1d.
All your business income needs to be reported. In your example, if the $8,000 of general business income does not include any of the $7,800 1099-K income, then your amount on line 1e ($15,800) is correct and you do not need to edit the amount. If you have included the $7,800 in your general business income entry, you need to change the $8,000 to $200 so your total income will then be $8,000.
You can do a print preview of the Schedule C to see that line 1 is actually "Gross receipts or sales" on the form filed with the IRS. To do this in TurboTax Home & Business you can follow these steps:
- Within your tax return, click the Forms icon at the upper right of the screen
- Scroll down the list on the left and click on your Schedule C
- Use the Print button at the bottom of the preview screen and then Preview Print Copy
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