Delete the Schedule D
Enter Form 1099-K under
Income
Other Common Income
Income from Form 1099-K START
On the “Did you get a 1099-K?” screen, select “Yes”
O...
It's taxable, but not self-employment.Scholarships can also be reported as earned income, which is more advantageous than as "other income". The problem is they...
Yes.
Section 179 deduction may be used for a business asset that was placed new into service that tax year (2024) and if the deduction does not cause a business...
Yes and No.
When you converted your home to a rental in 2023, you should set-up the rental at that time, and entered income and expenses.
If you used TurboTax ...
No, not for tax year 2024.
Form 1099-K is new, so the reporting regulations are sure to change, but as of now, you can split the income up without any statement...
