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posted Mar 23, 2024 3:41:07 PM

I received a 1099K and entered it and clicked on "other". It is from reimbursements for things I ordered. I thought that in my case it was not taxable. How do I show that

How/where do I enter it so I am not taxed on the money?

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1 Replies
Level 15
Mar 24, 2024 1:57:49 AM

For reporting Form 1009-K for personal items sold not associated with a trade or business, you can report this as Miscellaneous income.

 

  • From the left menu, go to Federal and select the first tab, Wages & Income
  • Add more income by scrolling down to the last option, Less Common Income, and Show more
  • Scroll down to the last option, Miscellaneous Income, 1099-A, 1099-C and Start
  • Choose the last option, Other reportable income and Start and Yes
  • Enter the applicable description and amount and Continue
    • First, enter Form 1099-K as received. It is essential that the full amount be entered.
    • Next, enter an adjustment as a negative number to reflect the cost of these items and the sales expenses  (but not more than the sales price. You can't produce a loss.)