Hmm, Thank you.
Doesn't sound quite right to me, and will require manipulation that I would rather not do for transparency but sounds like cannot be avoided if your supposition is correct.
What you are saying is that the instruction for 1e, "Receipts or sales from line 1a, 1b, and 1c" is incorrect and should include 1d. Yet, all the 1099-K is doing is reporting the aggregated credit card sales across multiple programs. The credit card amounts are already included in the actual sales numbers reported on the General Business Income page, as they have always been before the advent of the 1099-K.
That means that since the amount in 1a, which is composed of sales from 6 different coaching programs (which are listed separately with the individual sales for each on the General Business Income page), must be manipulated to remove the credit card sales of those programs reported on the 1099-K so as to not double count. This amounts to stating that the only sales included in those numbers should be cash/checks, which is not how this has been done in the past. While probably doable in Quickbooks, which is where the business accounts are kept, that does *not* seem correct to exclude credit card sales from the income page. This is also contrary to the instructions on the General Business Income page, which, as noted before, states "You can also use the fields below to enter the income reported to you in Form(s) 1099-K."
Since the total amount of sales is *already* reported on the General Business Income page, I submit that the simpler solution is to *not* include the 1099-K amount, reported on line 1d of the Schedule C worksheet, as the instructions in TurboTax already state. This also means the 1099-K amount would be greater than the listed total sales. What TurboTax is doing (including the 1d amount on line 1e) in spite of the instructions for both the Schedule C workbook and on the General Business Income page seems incorrect to me, but if that is not going to be fixed, then I guess I will do what I have to do to get the actual income numbers to show correctly. Ugh.
