TurboTax Advisor Says No More 1099-NEC if You Get A 1099-K????

@Madetoshop wrote:

Incorrect. 1099-NECs are sent for earnings $600+. If it includes reimbursements, then those shops were FLAT fees. You will still receive a 1099-K if your reach the threshhold for payments in excess of $5000+. Report your income once regardless and ignore the personal reimbursements on the 1099-K. If you kept excellent, precise records, this should be a snap. Note to others: Don not trash your 1099-Ks

@metro25782 wrote:

That can’t be right, right? I should still get a 1099-NEC from the MSC too, correct? Her advice was that if you get paid through PayPal, you won’t get the NEC. If you got paid via direct deposit, you would. Sounds weird since PayPal could be someone re-paying me for gasoline if I gave them a ride to work, a refund for something I returned that I bought through PP... Any thoughts?

Yeah, I didn’t keep excellent records...so it’s not going to be a snap for me. LOL

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My post is full of phone keyboard typing errors, OMG. You can do it honey. It will just take you extra effort.
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