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What if I made more than $5,000 on venmo but did not recieve a 1099k?

 
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What if I made more than $5,000 on venmo but did not recieve a 1099k?

It does not matter that you did not get a 1099K----you still have to enter any self-employment income if you have over $400 of self-employment income.  

If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare,  you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.

 

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-empl...

 

 

If you live in a state with a state income tax, you might need to make estimated payments to your state.

 

https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves...

 

 

 

To enter your self-employment income not reported on a tax document:

  1. Type “Schedule C” in the Search box
  2. Select the “Jump to” link.
  3. Answer the general questions about your business (or select Edit at the work summary screen).
  4. At the Let’s get income for… screen, select Additional Income.
  5. When in your account, select the Take Me to My Return button on the main screen.

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
AmyC
Employee Tax Expert

What if I made more than $5,000 on venmo but did not recieve a 1099k?

Input any taxable income regardless of the paperwork. You may want to contact Venmo to determine if it is online or lost in the mail or another issue.

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