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skysongx
Returning Member

Where to report 1099-K on 1120S

My business sales are processed by credit card and I received a 1099-K from the card processor with my total sales. I entered my total sales in the "Business Income" section. However, the "Other Income" section asks me to report my 1099-K income as Royalty Income. I don't believe my sales are royalty income. However, is it an issue if I leave the 1099-K section blank when I have been issued a 1099-K? If I report in both sections, the income will be double counted. Thanks for your input!

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1 Reply
ThomasM125
Expert Alumni

Where to report 1099-K on 1120S

You just enter the Form 1099-K income in the business income section of TurboTax. You would only enter it in the royalty income section if there was royalty income reported on it.

 

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