Filing my wife's taxes and she is a small business owner (Franchise). She only has a 1099-K. Is the 1099-K sufficient to file her taxes?

[Opus 17]

The 1099-K reports certain payments, but not always all of them.  As a small business, your wife is expected to keep reliable business records of her income and expenses, and report all her income and expenses on schedule C, even if she did not get tax paperwork.  Once you enter the 1099-K that should create a small business schedule C, and then you enter any other income plus expenses.