1099k address

[oethumb39]

I got a 1099k on my real name/ss but address on the forms/ebay is totally ⊗⊗⊗⊗ ie far away apartment building where I have never lived.
My question is: Should I change/edit the address on the forms (corrected) when submitting to IRS or leave it?
Will IRS give me problem about unkown address coming from ebay?

[SaiJin]

leave it...

[rsot]

nice and simple answer

[agent006140]

IRS does not care about your address on 1099.
People move and that was a prior year 1099 address,IRS does not need that address,it is the 1040 address which matters if itis going to send out refund check or notice you will get an audit

[goldfish]

A) what do you mean by “Submitting it to irs”

If you don’t have a corporation all you will do is put the the number from the 1099k on your gross sales line for schedule c (plus any other 1099 received & cash recites etc)
Basically make sure total sales reported is equal or more than total of your 1099ks …

B) I have received 1099k from Amazon with random address but same state
With no problem For years

C) I suggest you make sure it’s the same state otherwise “can” cause problem on state side

D) it’s too late to change it now
Unless you go on chat , get to mp
Have them revise it

[agent006140]

Your total sales on Schdule C does not have to agree with 1099,
1099 is gross sales,it does not exclude returns,shrinkage

[henryfalmore]

contact an attorney just be careful

[SaiJin]

Originally Posted by henryfalmore

contact an attorney just be careful

You mean a tax specialist...?

[agent006140]

EBAY,AMZN,PAYPAL etc when they send you a 1099K,they send the same copy to IRS at the same time,there is no need for you to send any.
JUst make sure you report what is on 1099K and dont forget to substract refund,shrinkage .on your tax return

[goldfish]

Agent is correct. They send a copy to irs

For w2 & certain 1099 like 1099r (pension )
1099g unemployment you need to put the address into software etc plus ein of issuer etc

But 1099misc & 1099k there is no place to put all the info including who issued the 1099k


The only thing your tax preparer needs is gross total $ number on each 1099k
You got from different places like eBay Amazon PayPal

No need to contact attorney over address

Also if their is a problem with your 1099 like name & ein /ssn don’t match
You will get w9 form request by September


Ok?

[goldfish]

Originally Posted by agent006140

Your total sales on Schdule C does not have to agree with 1099,
1099 is gross sales,it does not exclude returns,shrinkage

I don’t have it in front of me but top line needs to be atlesst equal to total of 1099k received (it could be more like if you sold for cash etc )

There is a line under top line of schedule c to deduct returns / refunds etc

So get top line right or you may face automatic letter from irs
That’s the line that gets checked automatically by the computers etc

(I was tax professional before )

[agent006140]

but you could also have cash sales which are not in 1099,SMALL DISCRepancy does not matter,IRS is looking for big fish.
One problem is state audit,as they compare your sales record with your bank deposit,if not on your sales ledger ,if not SS,Insurance claims,inheritance ,rebates.pension,wages,then it must be cash sale and you have to prove otherwise

[kirkland]

Like others have said, IRS dgaf about your address

[SaiJin]

Originally Posted by kirkland

Like others have said, IRS dgaf about your address

Yep... they just want your money... lots of it.

[oethumb39]

I like have 2 accounts under my name /ss. But received two separate 1099k.
How do I fill the schedule c: combine the total of both or fill out two scedule c forms/.

[agent006140]

combine the two if SSN is the same

[SaiJin]

Originally Posted by oethumb39

I like have 2 accounts under my name /ss. But received two separate 1099k.
How do I fill the schedule c: combine the total of both or fill out two scedule c forms/.

If you're really unsure on how to do this, get a tax guy to do it.

I made mistakes before and got a letter of adjustment from IRS 2 YEars later and they billed me even higher.

[rsot]

Originally Posted by SaiJin

If you're really unsure on how to do this, get a tax guy to do it.

I made mistakes before and got a letter of adjustment from IRS 2 YEars later and they billed me even higher.

Best to get the financial advice early like SaiJin has indicated

[henryfalmore]

Originally Posted by SaiJin

You mean a tax specialist...?

yes ma'am. thank you

[goldfish]

Originally Posted by oethumb39

I like have 2 accounts under my name /ss. But received two separate 1099k.
How do I fill the schedule c: combine the total of both or fill out two scedule c forms/.

Yes add them up

As long as total reported on schedule c is equal or more than the
1099k combined you are fine

No need to do separate schedule c for each 1099
You only do separate schedule c when nature of business is different

Irs has a long list of business type with 6 digit code you are suppose to put on
Your schedule c

If you got 1099k from PayPal & another from eBay
both for online sales
You just do 1 schedule c

If you got 1099k from PayPal for your construction business &
1099k from eBay for online sales
You need to do separate schedule c

I suggest you hire accountant to do your taxes
To get all the deductions etc