1099k

mootzie — Mon, 24 Mar 2025 18:13:37 GMT

I received a 1099k because I received credit card payments for my 2 businesses. One business uses a Schedule C and the other business I use a Schedule F. Do I subtract the income from one of the businesses from the amount reported in box 1a and then choose add another 1099k to report the remaining amount for the other business?

Since the 1099k is just informational, when I enter my income for my businesses, on the appropriate schedule, I don't have to correct it for the amount reported on the 1099k, correct?

Re: 1099k

Vanessa A — Mon, 24 Mar 2025 18:16:25 GMT

If you already include that income in your gross receipts, you do not need to separate it out and enter it separately. You can just keep the 1099-K for your records.

Since you would be entering numbers that do not match the form on each business anyways, it is better to just use your records.

topic Re: 1099k in Self employed

1099k

Re: 1099k