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Returning Member
posted Mar 22, 2025 11:32:38 PM

Form 1099-K Summary shows tax withheld - need to correct

Hi, I received two 1099-K's from online sales. I believe I have entered all the transactions correctly. When I look at Form 1099-K Summary, I see that there is an amount in the federal taxes withheld box. This should be 0. How can I correct this? I could start over but I have many transactions to enter.

 

It is also strange that the amount shown for the federal taxes withheld is equal to the amount of box 1a of one of my 1099-K's.

 

Thanks.

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1 Replies
Expert Alumni
Mar 23, 2025 6:18:02 AM

If the entry is not correct, go back to the IRS form 1099-K and correct.  In TurboTax Online, follow these steps:

 

  1. Down the left side of the screen, click Federal.
  2. Down the left side of the screen, click Wages & Income.
  3. Click the down arrow to the right of Investments and Savings.
  4. Click to the right of Form 1099-K.
  5. Click on the pencil icon to the right of the correct 1099-K.
  6. Click Continue.
  7. On the Let's get the info from your 1099-K screen, correct the entry.