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Mblair
Returning Member

What to enter in TurboTax Self Employed?

I sell on Amazon and I am filing my taxes with Turbo Tax Self Employed. What if my Profit and Loss statement shows income was slightly higher than the 1099-K Amazon provided me? Do I enter the actual number I have on my Profit and Loss statement or what is on the 1099-K? ( I only sell on Amazon.) Thanks in advance! Screenshot 2019-10-17 13.13.10.png

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4 Replies

What to enter in TurboTax Self Employed?

Yes.  You must report all your income from your own records even if it's not included on a 1099Misc or 1099K.

Mblair
Returning Member

What to enter in TurboTax Self Employed?

@VolvoGirl Thank you! Should I put the amount of the 1099-K on one line and then put the difference on the next? or just keep them together as a total?

What to enter in TurboTax Self Employed?

Only the total goes to schedule C line 1.  You can enter the total on the Cash line.

Mblair
Returning Member

What to enter in TurboTax Self Employed?

Could you please clarify? I'm using TurboTax Self Employed. Thank you so much for your help!

Screenshot 2019-10-17 13.13.10.png

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