Can I file income from a 1099 K on my next year's return without being penalized?
Md Ariful Islam
বিএসসি(সিএসই)
,
এমবিএ(মার্কেটিং)
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Dr. Md Rushad Rahman
এমবিবিএস(আরপিএমসি)
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পিজিটি(মেডিসিন)
The income reported on a 1099-K should be reported in the year you earned it. Otherwise, the IRS will send you a matching notice, called a CP2000 notice. Keep in mind that the IRS receives a copy your 1099-K, so they know if you didn't report it. You may be charged additional taxes, penalties, and interest if you don't report all of your earnings for that year.
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