I received a 1099-MISC from a publisher for royalties. However, I also received a 1099-K from Paypal listing the same payments. How do I avoid getting double taxed?
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I received a 1099-MISC from a publisher for royalties. However, I also received a 1099-K from Paypal listing the same payments. How do I avoid getting double taxed?
I received a 1099-MISC from a publisher for royalties. However, I also received a 1099-K from Paypal listing the same payments. How do I avoid getting double taxed?
I understand your concern, but there is really no way to report both of them. Just report the income once from the 1099-MISC and do not be concerned with the 1099-K. Keep it for your records with a note, so you have documentation.
I received a 1099-MISC from a publisher for royalties. However, I also received a 1099-K from Paypal listing the same payments. How do I avoid getting double taxed?
I understand your concern, but there is really no way to report both of them. Just report the income once from the 1099-MISC and do not be concerned with the 1099-K. Keep it for your records with a note, so you have documentation.
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