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peterv57
New Member

Clients paid me with PayPal and sent a 1099-nec. This income is already on the 1099-k PayPal sent. How do I enter the 1099-nec without adding extra income to my return?

 
2 Replies
ToddL99
Expert Alumni

Clients paid me with PayPal and sent a 1099-nec. This income is already on the 1099-k PayPal sent. How do I enter the 1099-nec without adding extra income to my return?

How much income was reported on the 1099-K?

ThomasM125
Expert Alumni

Clients paid me with PayPal and sent a 1099-nec. This income is already on the 1099-k PayPal sent. How do I enter the 1099-nec without adding extra income to my return?

You can enter both incomes on your tax return. When you enter the 1099-K form, there is a line where you can enter an adjustment amount to cancel out the duplicate income.

 

[Edited 2/3/21 4:34 PM PST]

@peterv57

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