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Misused Business Account

n0vagirl2222
Contributor

Misused Business Account

Hi Y'all,

 

So years ago I created a business account to hopefully start an Etsy business. Well, I didn't start the Etsy until December 2020 (which I have not made a profit from yet.) Now, I've been using that same account for personal transactions, mostly to shop online, but I do on occasion receive payment from friends. The problem is now I've received a 1099-K tax form. I am located in Virginia so I know there's a different requirement here, but to be honest, I'm still a dependent and not sure what this all means.  What should I do? (Besides create a personal PP.)