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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?
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February 3, 2021
12:34 PM
last updated
February 03, 2021
12:34 PM
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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?
February 3, 2021
12:59 PM
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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]
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February 3, 2021
4:19 PM
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