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Entering Form 1099-K transactions on Lacerte

SOLVEDby IntuitLacerte Tax247Updated May 12, 2022

Reporting Form 1099-K transactions separately isn't required, but the client may receive an IRS notice if the gross receipts don't reflect amounts from the 1099-K.

To avoid this, be sure to include amounts from Form 1099-K when calculating gross receipts or sales. Select your module below for instructions on reporting these amounts.

For calendar years beginning after December 31, 2021, the reporting requirement for these transactions has changed from totals exceeding $20,000 to exceeding $600, regardless of the total number of transactions. See Form 1099-K instructions for more information.

Entering Form 1099-K in the Individual module:

  1. Go to:
    • Screen 16, Business Income (Sch C),
    • Screen 18, Rental & Royalty Inc (Sch E), or
    • Screen 19, Farm Income (Sch F, 4835).
  2. Scroll down to the applicable income section for Schedule C, Schedule E, or Schedule F.
  3. Enter amounts from Form 1099-K in the applicable income section.

If the 1099-K is from online gambling winnings see Entering gambling winnings and losses in Lacerte for how to enter the income.

For more information, see here for the IRS's general FAQ on payment card and third-party network transactions.

  1. Go to Screen 13, Income.
  2. Under Gross Income enter the amount in Gross receipts or sales as reported on the Form 1099-K.
  1. Go to Screen 10, Income.
  2. Under Gross Income enter the amount in Gross receipts or sales as reported on the Form 1099-K.
  1. Go to Screen 13, Income.
  2. Under Gross Income enter the amount in Gross receipts or sales as reported on the Form 1099-K.

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