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Greta
Level 7
May 30, 2026
Solved

Sch 1 Line 24z does not open

  • May 30, 2026
  • 1 reply
  • 0 views

Ebay 1099-K was sent erroneously to client. I read that these are to be reported on Sch 1, line 8a as income and line 24z as an equal deduction. But line 24z does not work. I can put it on Sch C and wipe it out as an expense, but client will get a request from City Hall for a business license. Should I put the equal deduction as a negative figure on Line 8z?

Best answer by Just-Lisa-Now-

Scroll down the 1099K worksheet, there's a checkbox for if it was incorrectly reported.  You can wash it out there.

1 reply

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community ChampionAnswer
Intuit Community Champion
May 31, 2026

Scroll down the 1099K worksheet, there's a checkbox for if it was incorrectly reported.  You can wash it out there.

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