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If you are asking whether you are required to complete, file with the IRS and issue Form 1099K to a customer then there is a "de minimis exception".
On the other hand, if you received a Form 1099K this is reported as self employment income simply by adding the income to your business and then recording your ordinary and necessary expenses to be able to earn this income. There is not a document entry for the Form 1099K. You are required to report this on your tax return.
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HI how i report income if i did'nt reeceive 1099k
@SUNNYKHB Do you have self employment income?
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
How to enter income from Self Employment
How to enter a 1099K
I raised $13k in Indiegogo funds in 2021 and used 100% of the funding for a project in the same tax year of 2021. I did not raise enough to receive a 1099-k tax form, so how do I go about reporting the income AND the expenses that broke me even on the funding raised?
Crowdfunding for business: funds raised are treated as gross income. Report the income on your Schedule C (if not treated as any other business entity) and deduct business-related expenses.
Follow these steps to enter self-employment income and expenses:
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