How do I report incorrect 1099-K income on Line 8z and Line 24z of Schedule 1?

Menu Path: Income > Business / Rental Income > 1099-K Income

If you have a Form 1099-K that includes incorrect income, you can report this in the Form 1099-K section of the software.

Follow these steps:

1. Start in the 1099-K Income section. Menu Path: Income > Business / Rental Income > 1099-K Income
2. Answer Yes to the question that asks if you received an incorrect Form 1099-K.
3. Enter the total amount that shouldn't be included on your 1099-Ks.

That amount will then be included on Schedule 1. This will report the correct 1099-K amounts on your return to the IRS. This amount won't be included as income on your tax return.