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Form 1099-K - Entering in Program
1

Form 1099-K Payment Card and Third Party Network Transactions must be entered in to the TaxAct® program through one of the following schedules:

Schedule C

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Business Income in the Federal Quick Q&A Topics menu to expand, then click Business income or loss from a sole proprietorship.
  3. Click + Add Schedule C to create a new copy of the form or click Edit to review a form already created.
  4. Continue with the interview process to enter all of the appropriate information.
  5. On the screen titled We need to know if Taxpayer/Spouse received any of these for their work in 2020, click the 1099-K box, then click Continue.

Schedule E

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Rent or Royalty Income in the Federal Quick Q&A Topics menu to expand, then click Real estate rental income.
  3. Click + Add Schedule E, Pg 1 to create a new copy of the form or click Edit to review a form already created.
  4. Continue with the interview process to enter all of the appropriate information.
  5. On the screen titled Rental Income - Income, click Yes.
  6. On the screen titled Rental Income - Form 1099-K, click Yes.

Schedule F

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Business Income in the Federal Quick Q&A Topics menu to expand, then click Farming income or loss.
  3. Click + Add Schedule F to create a new copy of the form or click Edit to review a form already created.
  4. Continue with the interview process to enter all of the appropriate information.
  5. On the screen titled Farm Income - Income, click Yes.
  6. On the screen titled Farm Income - Form 1099-K, click Yes.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.