How do I enter amounts from Form 1099-K, Merchant Card and Third Party Payments?
Separate reporting of Form 1099-K is no longer required by the IRS. Within Drake, gross receipts received via payment card (credit and debit cards) and third party network payments can be entered on the following screens:
- Screen C - Schedule C
- Screen E - Schedule E
- Screen F - Schedule F
- Screen INC in 1120, 1120S and 1065 returns.
Enter amounts reported on a 1099-K as an undifferentiated part of gross receipts.
For more information about IRS requirements for Form 1099-K, see General FAQs on Payment Card and Third Party Network Transactions