How do I enter a 1099-K?
You’ll enter the income reported on your Form 1099-K as ‘Additional income’ along with any cash or checks you received as self-employment income.
Here's how to enter your 1099-K:
- Open your return.
(To do this, open the mobile app and select theTake me to my return button.) - Select the red checkmark, or menu icon (3 lines) at the top.
- Select Federal Taxes, and then Wages & Income.
- Select the Self-Employment section, and tap Income and Expenses.
- If this is your first time entering information in this section, you’ll be asked to answer some questions about your self-employment work.
- When you reach the screen asking what type of income you want to enter, select: Additional income - Includes 1099-K, cash and checks
- Now enter the information from your 1099-K.
Note: You’ll need to be using TurboTax Deluxe or a higher version of TurboTax to enter a 1099-K. You’ll be given the option to upgrade if this applies to you.
Form 1099-K gives a Gross Amount - What does this mean?
If you're entering income from a 1099-K, remember that this form reports the gross amount of the transactions. It doesn't include any adjustments for credits, refunds, discounts, fees, etc. You’ll have a chance to enter any business expenses like fees and all other expenses in another part of your return.
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