- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If I received a 1099-K from a payment processor does the amount on the form include revenue before they take out their fees, or after? If after, how do I account for that
I pay 2.9% plus $.30 per transaction. The 1099-K they sent doesn't say if it is gross or net their fee. Also, they are effectively double reporting 1099-NEC forms I received from other businesses that pay by credit card. How do I put this in my taxes?
Topics:
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
If I received a 1099-K from a payment processor does the amount on the form include revenue before they take out their fees, or after? If after, how do I account for that
Usually it is gross however it could also be net of fees so ASK THE ISSUER for the answer if your bookkeeping records don't make it obvious.
Still have questions?
Make a post
Or browse the Forums