751343
I am trying to complete the 1099K correctly. I am a Lyft employee, not the employer. Turbo Tax Business is acting like I'm the employer. I've entered my home address. What am I doing wrong?
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I think you are doing everything correctly. You will use schedule C Profit or Loss from Business to enter the income reported on your Form 1099-K as 'Additional income' along with any cash or checks you received as self-employment income.
It sounds like you are in the correct place in Turbo Tax but just to make sure:
If you are entering income from a 1099-K, remember that it reports the gross amount of the transactions. It doesn't include any adjustments for credits, refunds, discounts, fees, etc. You’ll have a chance to enter any business expenses like fees and all other expenses in another part of your return.
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