mistake on 1099

[gamezoneplus]

I quit selling about June of 2013 as I didn't have the time anymore.....I only had 1 transaction in the 2nd half of the year, but it put me at over the reporting threshold

The problem is that this $4320 payment/transaction was for a debt that was owed to me by someone and they mistakenly marked "pay for item" instead of "send money to family or friend" when they sent they cash

Is there something that can be done to correct this, either with Paypal or the IRS, or am I just stuck with how it is??

Thanks a lot for any help

[snowshoe]

There's a few good tips here that may provide you some options:

http://blog.equifax.com/tax/tax-mistakes-what-to-do-when-your-1099-or-w-2-is-wrong/