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I have a tax question regarding 1099-k. I received 1099-k…

Hi i have a...

Hi i have a tax question regarding 1099-k

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Ok I received 1099-k for money received in 2017. I have cost of service that will lower my profit. All this is good. My question I had an initial capital cash. Where do I include the capital money.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

That's pretty much it

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Answered in 1 minute by:
3/11/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,633
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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You do not report the amount you put into the company as capital cash. You do not pay tax on that and you do not deduct it either.

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Customer reply replied 1 month ago
Ok thanks

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

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,633
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
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Customer reply replied 1 month ago
Can you please call me I would like to explain my situation more in details it's more complicated than how I asked
Lane
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