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posted Feb 20, 2025 7:21:17 PM

1099-k and 1099-nec for same amounts. How should I report income without it doubling up?

I was paid for services by multiple companies that mailed me 1099-nec forms. Those amounts were paid via PayPal or Venmo who sent me 1099-k. If I claim both it will double the amounts that I was paid. How do I handle this?

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1 Replies
Expert Alumni
Feb 21, 2025 6:23:01 AM

You can enter the 1099-NEC as normal and then enter the 1099-K and back the income out of it.

 

To enter the 1099 K and then back it out immediately take the following steps:

  1. Income
  2. 1099-K under Other Common Income
  3. Enter the information from the 1099-K
  4. Check the box that says, This amount in box 1a is too high or includes some personal transactions
  5. Enter the amount that shouldn't be included