Form 1099K - Payment Card and Third Party Network Transactions

What is it?

Payment Card and Third Party Network Transactions - is a supporting document of income.

Where to put it?

This form is a supporting document.  It is not directly input into any of our software packages.  

It is used to show your client has income.  They may have had other income too.  

Is the form Supported in our program?: As this is a reporting form, the 1099K doesn't enter into the return.  Its information gets reported on forms that report income, such as Sch C, E, F, Corporate, and Partnership Returns.  This can also be reported on the Schedule 1.  Unfortunately, this form has many uses. 

How to access the form: Not in our system.  Income is reported as part of the total income for the form.

Limits to the form: No Limits.

IRS Publication: https://www.irs.gov/forms-pubs/about-form-1099-k

Solution Articles: 
Filling out a Sch. C - VIDEO INCLUDED
Sch E (1040) Page 1 - Supplemental Income and Loss Page 1
Sch E (1040) Page 2 - Supplemental Income and Loss Page 2