turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How to enter 1099k form

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
rjs
Level 15
Level 15

How to enter 1099k form

In the Search box type 1099-k, then click the link that says "Jump to 1099-k."

 

TomK2023
Employee Tax Expert

How to enter 1099k form

What is your 1099-K for?

 

Form 1099-K tracks income you receive, usually through credit cards or processors like PayPal, Venmo, Square, Etsy, Uber, or Ebay, for selling goods or providing services.

 

You should receive a 1099-K if you made over $20,000 from more than 200 transactions.

You might also receive a 1099-K if you accepted payments via prepaid/gift cards or if your state has a lower reporting requirement than the IRS.

 

Even if you don't receive a 1099-K, or you make less than $20,000 from fewer than 200 transactions, you still need to report all taxable income to the IRS.

 

  • Follow these steps to enter your 1099-K if you’re selling personal items
    • For example, you’re selling vintage clothes you collect on eBay
  • Follow these steps to enter your 1099-K if you make side income from your hobby
    • For example, you sell candles on Etsy
  • Follow these steps to enter your 1099-K if you’re self-employed
    • For example, you accept payments for your bakery via Square

Here are some more examples to better understand.

 

Example 1: Stephanie teaches a yoga class on the weekends at the park. Her students pay her for the class via Venmo. In 2023, she made more than $20,200 from over 200 Venmo payments. She'll receive a 1099-K from Venmo.

 

Example 2: Shane is a full-time student who drives for Lyft a few days per week. In 2023, their gross income from driving for Lyft is $24,000. Shane will receive a 1099-K from Lyft reporting that income.

 

TurboTax FAQ: What is Form 1099-K?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies