Two 1099k forms for one business

Forum|Forum|3 years ago
April 2, 2023
2 replies
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Hi, I was wondering how you would enter two 1099k forms for a single business. I sell on Amazon and on Ebay and received 1099k forms from each of them. The business is just me buying and reselling products at a profit. Do I enter each 1099k separate as if they are separate businesses or do I simply add the totals together and enter as one?

user17750693608

Level 8

You would enter each separately so the IRS can match the amounts. You are not creating two businesses, only one Schedule C is used. You are just entering two forms of income for the one business.

JohnB5677

Level 15

You do have the basic idea, but I can clear it up for you.

You will enter each of the 1099-K's separately.
You will then consolidate them into one business,

Under Federal: Go To

Wages & Income
Scroll down to Self-employed [Show More or Revisit]
Post, or select your line of work.
Continue the Interview to Did you have any more self-employed income for work? - [Yes]
Let's enter any additional income for your work.
Select Form 1099-K, for electronic payments from processing companies.
Complete the posting of the K-1s and move forward through the rest of the interview.