What to Do With 1099-K

If you used a third-party app to send or receive money during the year, you may have received a 1099-K. You can add this to your eFile account to generate the needed forms and add it to your taxable income.


1. Sign in to eFile.com
Sign in to eFile.com or sign up here, then enter all your personal identifying information.
2. Where Do I Enter Data?
eFile will guide you through entering all types of income. Most of the time, these transactions are for your business or if you are self-employed. Under Income, work through the Business section and add the income from your 1099-K under the section that reads Do you have business income to enter that's not reported on a Form 1099-NEC or 1099-Misc?

Business Entry
Click to enlarge image

3. How to Manually Add Data
To manually add your form, navigate to Federal Taxes > Review > I'd like to see the forms I've filled out or search for a form and enter "Schedule C." You can then fill out the details based on your information and add the 1099-K income under the Business Income section.
4. Box Descriptions
There are many boxes on the form, but below are the most common that will be filled in.
1a: Gross amount of payment card/third party network transactions
1b: Card Not Present transactions
3: Number of payment transactions
4: Federal income tax withheld
6-8: State details.
5. How to Add, Delete a Form or Page