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posted Feb 1, 2025 9:16:00 AM

Got a 1099k for a payment received via Venmo

I got reimbursed for concert tickets by a friend via Venmo ($800) last year.  I just got a 1099-k because of this.  This is not income so how do I deal with this form for taxes?  I live in Virginia and read the cutoff now to get a 1099k is $600.

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Expert Alumni
Feb 1, 2025 9:28:09 AM

Yes, you are correct in that you do not have to pay taxes on reimbursements from friends. 

 

Here is how to report this in TurboTax Online:

  • Within your tax return go to the magnifying glass icon on the top right, type 1099-K and select the Jump to 1099-K link in the search results
  • Choose Add a 1099-K
  • The next screen will ask "Which type of income your 1099-K is for?" choose Personal item sales, then Continue
  • Enter the information from your 1099-K
  • After you choose continue, the next screen will show "Personal Item Sales". Here is where you choose "All items were sold at a loss or had no gain"