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New Member
posted Apr 15, 2023 7:42:38 PM

1099k from Paypal for High School Reunion Tickets

My husband got a 1099K for High School Reunion Tickets purchased via his account. The monies are going to the Reunion Committee to pay for the reunion. He is making no money, and this isn't income. How do we put on our taxes? I assume we need to offset so it zeroes out. Just want to make sure I do it right.

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2 Replies
Returning Member
Apr 15, 2023 8:11:51 PM

After you have reported the amount from the 1099-K, the next screen will ask you if you need to adjust any of the amounts.  You indicate "yes," and then show that the amount needs to be on the Reunion's tax number, instead.  I hope you guys applied for a tax number for the group?

Expert Alumni
Apr 16, 2023 6:46:49 AM

Here's how to zero out your Form 1099-K for your high school reunion tickets:

 

  1. Type 1099-k in Search (magnifying glass) in the upper right
  2. Tap Jump to 1099-k
  3. On “Did you get a 1099-K?" say Yes
  4. On “Choose which type of income your 1099-K is for," select Other
  5. On "Let's get the info from your 1099-K" enter your info and check the box This amount in box 1a is too high or includes some personal transactions.
  6. Enter the Box 1a amount in the box Enter the amount that shouldn't be included to zero out the form.

The amount will be reported on Form 1040, Schedule 1, Part I, line 8z.

 

@catorina