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.

tishamh
New Member

How to enter a 1099-K from Paypal for rebates and coupons

I need help with how to enter a 1099-K on the deluxe version of turbotax. I purchase items and review them in order to get refunded by companies. I also use coupon apps that refund via paypal. This is the first year I have received a 1099-K. I know that these payments should not be taxable, but I am not sure how to enter them and see conflicting information about it. How do I enter this and enter a negative line? Thank you. 

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.

1 Reply
RobertB4444
Employee Tax Expert

How to enter a 1099-K from Paypal for rebates and coupons

The reason you have found conflicting information is that there are several ways to handle this and none of them is wrong.  The key is to get the information on the return that matches that 1099-K and then back it out with a negative number so that none of it is taxed.  

 

In the TurboTax software when you enter the 1099-K there will be several options for what the 1099-K is for.  If you just tick the box marked 'personal item sales' then when you enter the amount from the 1099-K the system will ask you how much to exclude.  Type the full amount and then it should be all over.

 

@tishamh 

**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