1099-K

[Turbjjj]

I have two businesses, one is a sole proprietorship, the other I received a 1099-MISC for.  Both are paid through Paypal and so I received a 1099-K.

I entered my two businesses in the business section (one as sole prop and one as 1099-MISC).  If the entire amount noted on the 1099-K is included in the businesses entries I already input, do I skip the 1099-K entry?  I've heard that you don't need to actually "report" the 1099-K as long as the income is accounted for.

Thank you.

[ThomasM125]

You are correct, you should not report the Form 1099-K if you already entered your business income elsewhere.

[Turbjjj]

Thank you.