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I have a tax questions

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Hello,I have a tax questions...
Hello,I have a tax questions
Submitted: 11 months ago.Category: Financial Software
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Answered in 1 minute by:
9/15/2017
Tech Support Rep: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 11 months ago
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Financial Software
Satisfied Customers: 2,763
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
Verified

Hello my name is ***** ***** I will be able to assist you today.

What is your specific tax question?

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Customer reply replied 11 months ago
I received a CP2000 for tax year 2015 today
I agree with one issue another I don't
Customer reply replied 11 months ago
I need to know how to proceed, I am also completing tax year 2016 and have a question about that
Tech Support Rep: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 11 months ago

You are able to respond with a detailed reason why you disagree with one part and agree to another. You would write and attach the statement, sign and date the CP2000.

The IRS may accept your response or ask you for further detail. The IRS are reasonable and the CP2000 is a tool the IRS uses to collect information from the taxpayer.

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Customer reply replied 11 months ago
The issue is over a 1099k I received, I reported the income but less then the 1099k reported, not all income on the 1099 was business, some of it was personal, same situation for 2016,
Customer reply replied 11 months ago
I don't know what I should report for 2016, report exact amount and deduct the personal income on the schedule c
Tech Support Rep: Robin D., Senior Tax Advisor 4 replied 11 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Financial Software
Satisfied Customers: 18,380
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified

Hello

You requested a different expert.

The amount on the 1099K is the amount that should be reported on the Schedule C. The "personal" income you suggest is still income form the business activity so it should not be removed. If you have any expenses then that can be reported on the Schedule C. If you received money from a family member and they ran it through the issuer of the 1099K then you would need to be able to show the IRS the statements you have that prove that but all the amount on the 1099K is required to be reported as income on the Schedule C then you make your subtractions.

You are most welcome.
A positive 5 star rating is appreciated so I am credited for assisting.

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Tech Support Rep: Robin D., Senior Tax Advisor 4 replied 11 months ago

Hi Did you need more information from me? If not a positive rating would be appreciated.

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