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lmayfield10
New Member

Venmo new income tax law

My tenants pay their rent to my Venmo account. It is set as friends and family. However, I already claim this income when I file taxes. What do I need to do in order not to count this as income twice?

1 Best answer

Accepted Solutions
tagteam
Level 15

Venmo new income tax law

Simply keep track of the taxable income separately.

 

You will receive a 1099-K for the total transacted amount.

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1 Reply
tagteam
Level 15

Venmo new income tax law

Simply keep track of the taxable income separately.

 

You will receive a 1099-K for the total transacted amount.

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