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1099K


Terry D EA

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Just make sure that the total sales include the income from the 1099K.  If it does, then there is nothing else to do.  If you want to do two separate lines, enter the 1099-k income and then on the next line enter the remainder.  When the 1099K's first came out the schedule C had a place to input the amount, however either the following year or the year after it was deleted.  The important thing is that total income is reported.

For example, here a lot of my hair dressers are using square.  The print out the 1099K and if that was all they turned into me I would question it, what about cash, checks, ect... But if they give me a total figure that is more than the 1099K I would make the two line entry, the one for the 1099K and the other for the remainder of the income, to total the total income being reported.

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