1099-K reporting (not related to business)

[blueskyus0]

I got 1099-K from Paypal for two awards. I am not self employed. I also got a 1099-MISC for one award. No 1099-MISC for the 2nd award, which is small amount ($200). I have two questions:

1 do I need to report 1099-K on schedule C? I am a student, not self-employed.

2. Should I report 2nd award too even though I didn't receive 1099-MISC  form

[MaryK4 · Accepted solution]

You do not have to report the 1099-Ks on a Schedule C if it is not Self-Employment income.  You should report the second award even if you did not receive a 1099-MISC.  You can enter as Miscellaneous Income. You can enter the 1099-K as the description.  

Here are the steps:

• After sign-in, select Pick up where you left off 
• To your left, select tab Federal Taxes /Wages and Income 
• Scroll down to the Less Common Income section.
• Choose Miscellaneous Income 
• Select the very first option at the top"Other income not already reported on a Form W-2 or Form 1099".
• Then follow the prompts.