How you report Form 1099-K payments on your tax return depends on the type of transactions you made.
Please check here to select the type of income received and how to report it.
To determine whether your Social Security benefits are taxable includes half of your Social Security income plus all other sources of income, including any tax-exempt interest. Once this total exceeds the base amount for your filing status, a portion of your Social Security income becomes taxable. The three base amounts are:
- $25,000 for single, Head of Household, and qualifying surviving spouse with a dependent child or married individuals filing separately who didn't live with their spouse at any time during the year.
- $32,000 for married couples filing jointly.
- $0 for married persons filing separately who lived together at any time during the year.
To report your Social Security Income:
- Login to your account.
- Select Federal from the left menu
- Go to Wages and Income then Income and Expenses.
- Scroll down to Retirement Plans and Social Securities.
- Select Strat next to Social Security (SSA-1099, RRB-1099)