1099K issued for receiving winnings from online gambling sites

unbreakable1
New Community Member

I was issued a 1099k for the 2020 tax year. My transactions were for funding and receiving winnings from online gambling sites. To no avail I have been dealing with the IRS since that tax year because Paypal issued the1099k like I was receiving money for selling goods. How do I get this resolved? Has anybody else been struggling with this issue? Paypal customer service was no help. 

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sharpiemarker
Esteemed Advisor
Esteemed Advisor

@unbreakable1 

 

Consult a tax advisor at the local H&R Block about how to deal with gambling winnings on a 1099-K.

 

You can also web search the turbo tax forums or Have a Tax Question? Ask a Tax Expert - JustAnswer


Kudos & Solved are greatly appreciated. 🙂
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