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Schylerk
New Member

1099k/1099nec reporting

So on mine the 1099k has alot more income than the 1099nec so I use the 1099k income because it includes the 1099nec income is what you're saying

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1 Reply
Vanessa A
Employee Tax Expert

1099k/1099nec reporting

If you are self-employed and you track your income, you can just enter your total income and not enter either of the forms as long as the total income includes what is on the form.

 

But otherwise, yes, if the 1099-NEC has more income than the 1099K and the 1099 NEC includes the income from the 1099K, then you would enter the 1099NEC.  If the 1099K has your SSN on it, you can still enter the 1099-K so the IRS doesn't question it, but do not enter it as business.  Follow the steps below to enter it. 

 

  1. Income
  2. 1099-K
  3. Select Other for which type of income is your 1099-K for?
  4. Enter the information and then click the box that says this amount is too high or includes some personal transactions
  5. Enter the entire amount in the box. 
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