Received a 1099-k from paypal reflecting a $50,000.00 payment that was refunded.

[rcp2]

Received a 1099-k from paypal reflecting a $50,000.00 payment that was refunded.

It was a mistake from customer, the transaction was reversed/refunded within a few minutes, but now the 1099-k still shows it as income.

Contacted paypal, but haven't heard back. Any ideas how this might reflect when filing taxes?

[aperl123]

There is a section on your tax forms regarding refunds and returns. Report the full 50k amount and then include the 50k on the refund/return section which will zero out the income.