I receive most income online through royalties, which are then processed by a third-party payment service. How do I report both without duplicating my income?

I receive a 1099-MISC from my payees and a 1099-K from the third party payment system, effectively causing me to report all my income twice. Do I need to report the 1099-K if all that income is reported elsewhere on 1099-MISCs?

207

Expert Alumni

Feb 19, 2020 9:17:16 AM

No - Don't report the income reported on the 1099-K as long as all the income is reported on he 1099-MISC forms.

Why sign in to the Community?

I receive most income online through royalties, which are then processed by a third-party payment service. How do I report both without duplicating my income?