So, I can put on my Schedule C
1099k sales $90,000 misc expenses $85,000 income $5,000
$80,000 from my 1099 misc total $85,000This will make my total income $170,000. Which is not really correct, as the $90,000 is just sales.
On my turbo tax
its says there is no place to enter info from 1099K but just add the income on my Schedule C.The $90,000 on my 1099K is gross amount of payment transactions
. not income. Does that really get added as income on my
Schedule C. It like double my actual income.My question is do I need to put that 1099K gross amount of payment transactions $90,000 on my Schedule C.
When almost all my income is already reported on my 1099 misc as $80,000.
My main income is as a realtor and that income is on my 1099 misc.
The 1099K is sales for some vacation rentals which I get paid as a commission on my 1099 misc.
Just don't know where to put the 1099k figure of credit