1099K form inaccurate

Snider68
New Community Member

This is my first time receiving a 1099K form.  I sold a watch for my Dad ($7,200) and the buyer had an issue with his payment and he paid me 2 times.  I refunded the first payment.  My 1099K reflects both payments pushing me over the $20,000 limit.  The refunded payment should not be considered income as I refunded it.  How do I go about getting the 1099K corrected?

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1 REPLY 1

Whac-A-Mole
Frequent Advisor
Frequent Advisor

1099k shows gross receipts,you have to deduct any returns,chargeback.refund and sales tax

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