Knowledge Base

10520: Where Can I Enter Form 1099-K?

1040 Individual Data Entry

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

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