qbteachmt
Level 15

The point of filing tax returns is to provide all info that matters. If you already did this, there is nothing to amend.

What doesn't matter is 1099-Misc, NEC or K. These are Informational reporting. They are not the Source Data for what is reported on the tax form. Example:

You might make sales to someone of $40,000 and unless they pay by a "settlement agent" you won't see a 1099-K. That doesn't mean not reporting the $40,000 as part of the entire operation.

And the 1099-K might be settlement for something as Liability and not as income. It's only the reporting of the movement of money. It's not by definition a reporting of Revenue or even for operations. You could have sold a company vehicle and gotten paid through PayPal, for instance. You could have made a deposit on some equipment and gotten it refunded, and it gets reported on a 1099-K because it qualifies for the reporting thresholds; the Purpose is not why it gets reported.

A 1099-K is no reason to amend, unless you "accidentally overlooked" all that info as part of everything you should have reported, already.

It's the same as people who only report what is on the 1099-NEC(s) they get. The IRS realizes your real operations are not reflected on all the information reporting forms. What this does is give them a heads up to expect filings from the entities that have been reported as having something to file, because of the activity reported by that reporting entity. It tells them to "be watching for tax forms."

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