1099K from Square

asburland · ‎February 8, 2021

I got a 1099K from Square for credit card payments. I already have this income entered in Quickbooks which was transferred into Turbo Tax for my return. Do I have to list my 1099K from Square if the income is already recorded? I don't want it to look like I made twice my income.

ToddL99 · ‎February 8, 2021

No, you do not have to report amounts from a 1099-K - as long as the income is reported elsewhere in your return.

You don't need to create a separate entry for your 1099-K info in TurboTax. That's because your 1099-K income should already be included in other income, such as your self-employment or rental income (or pass-through entity).

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ToddL99 · ‎February 8, 2021

No, you do not have to report amounts from a 1099-K - as long as the income is reported elsewhere in your return.

You don't need to create a separate entry for your 1099-K info in TurboTax. That's because your 1099-K income should already be included in other income, such as your self-employment or rental income (or pass-through entity).

1099K from Square