1099K for rebates and coupons for paypal

[LaurieAWhaley]

I received a 1099K for rebates i test products for my honest review. It is a little over $5,000. I know i have to report it. I purchased TurboTax Deluxe. I do not see the form that i need to report this on and then add a line to show the negative or the amount that is not taxable. Can you please tell me if I needed or need a different version of TurboTax?

[JamesG1]

In TurboTax Online Deluxe, I am able to report IRS form 1099-K as other income.  

If the income reported on the form is incorrect, note the box "This amount in box 1a is too high or includes some personal transactions."

To report Other income, follow these directions.

• Down the left side of the screen, click on Tax Home.
• Click on the down arrow to the right of Review.
• Click on the blue band labeled Review.
• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Scroll down to Other Common Income click on the dropdown menu.
• Under Your income, click the Start/Revisit button to the right of Form 1099-K.
• At the screen Did you get a 1099-K? click Yes.
• At the screen How would you like to enter your 1099-K? click Type it in myself.  Click Continue.
• At the screen Choose which type of income your 1099-K is for, select the button for Other income.  Click Continue.
• At the screen Let’s get the info from your 1099-K, enter the information.     
• If necessary, note the box "This amount in box 1a is too high or includes some personal transactions."
• Click Continue.
• At the screen Your Other 1099-K income, you enter further information for the Other income.  Click Continue.
• At the screen Your 1099-K summary, notice that the income relates to Other income.  Click Done.

The entry will be reported:

• on line 8z of Schedule 1 of the Federal 1040 tax return, and 
• on line 8 of the Federal 1040 tax return.

At the top of Schedule 1, note the amount reported in error or for personal items sold at a loss.