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Old 01-03-2015
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Default 1099K question

Trying to get a jump on gathering all my tax info up for the year, I have a question about the 1099K, this will just provide me with the amount of credit card transactions correct? I will still need to run my reports to get my total sales for the people that paid by echecks and such right? From what I have read I think that this is correct that it only shows the amount that people paid via credit cards but I could be wrong there is so much jargon out there on the tax sites that its hard to be sure.
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Old 01-03-2015
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Default Re: 1099K question

Just print out your 1099 and give it to your accountant when ever it become available on PP site. He/She will figure it out for you on how to estimate CC/Echeck payment.
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Old 01-03-2015
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Default Re: 1099K question

You are correct.
1099K is just the gross amount of credit card processing.
Echeck, paypal balances, lines of credit, instant transfers, etc... all are not included.
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