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!
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Yes. You must report all your income from your own records even if it's not included on a 1099Misc or 1099K.
@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?
Only the total goes to schedule C line 1. You can enter the total on the Cash line.
Could you please clarify? I'm using TurboTax Self Employed. Thank you so much for your help!
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