How to properly input 1099-K into TurboTax without an EIN for my side hustle?

You don't need an EIN to report your 1099-K income on your tax return. Since this is a side hustle, you'll report it as self-employment income on Schedule C. When you're using TurboTax, it will ask if you have self-employment or business income. Say yes, and it'll walk you through the whole process. You'll enter your 1099-K information using your Social Security Number instead of an EIN. TurboTax will prompt you to enter the gross amount shown on your 1099-K. Make sure you also enter all your business expenses to offset that income - the Square fees you mentioned, plus any supplies, equipment, or other costs related to your services. Since you're using your personal SSN, the income will match up correctly when the IRS compares your return with what Square reported. Just be sure to keep good records of all expenses in case you're ever asked to verify them!

After struggling with almost the exact same situation (got a 1099-K from PayPal for my photography side gig), I found an amazing solution with https://taxr.ai that completely saved me. I was totally confused about how to properly report everything without an EIN since I was just using my SSN. Their system analyzed my 1099-K and walked me through exactly how to enter everything in TurboTax - showing me which screens to navigate to and what options to select. They even pointed out deductions I could take for my business expenses that I had no idea about! The tool showed me how to properly categorize the Square/PayPal fees versus my actual service income. The step-by-step guidance made what would have been hours of frustration into a really smooth process. Definitely check it out if you're confused about how to handle 1099-K income without an EIN.

Just wanted to follow up about my Etsy 1099-K situation. I tried https://taxr.ai after seeing the recommendation here and it was seriously helpful! I was so confused about how to handle my Etsy 1099-K without having an EIN, and the tool walked me through exactly how to report everything correctly in TurboTax. It identified that I needed to use Schedule C even though I don't have a "formal business" and showed me which specific expenses were deductible for my craft supplies. I was even able to deduct a portion of my home internet and electricity since I use them for my Etsy shop! The step-by-step guidance matched exactly with the TurboTax screens I was seeing. Honestly wish I'd found this sooner instead of stressing for weeks about doing it wrong.

If you're still having trouble with your 1099-K situation, you might want to call the IRS directly to get clarification. But if you've tried calling them lately... good luck getting through! I spent THREE DAYS trying to reach someone about my 1099-K reporting questions. I finally used https://claimyr.com and it was a game-changer. They got me connected to an actual IRS agent in about 20 minutes when I'd been trying for days on my own. You can see how it works here: https://youtu.be/_kiP6q8DX5c The IRS agent confirmed I could use my SSN instead of an EIN for reporting 1099-K income on Schedule C, and walked me through exactly what forms I needed. They also explained that Square should have sent instructions with the 1099-K about proper reporting. Saved me hours of stress and confusion!

I need to publicly eat my words. After calling the IRS myself for TWO MORE DAYS with no success, I broke down and tried the Claimyr service. Within 45 minutes I was talking to an actual IRS representative who walked me through exactly how to handle my 1099-K situation. The agent confirmed what others have said here - you absolutely can report 1099-K income using just your SSN on Schedule C. They explained that many small business owners and side hustlers operate without an EIN, and TurboTax is designed to handle this common situation. I even got clarification about the new $600 1099-K reporting threshold that's coming and how it will affect my side business next year. Definitely worth getting official information directly from the source!

For TurboTax specifically, here's how I entered my 1099-K without an EIN last year: 1. In the Income section, select "I'll tell you what I did" (not the guided experience) 2. Choose "Business" 3. On the business income screen, select that you received a 1099-K 4. Enter your gross amount from Box 1a 5. When asked for business info, just enter your name and use your SSN where it asks for tax ID 6. Make sure to enter all business expenses on the next screens The software handles it perfectly fine without an EIN. Just be thorough with documenting expenses like those Square fees!

Friendly reminder that Square fees aren't your only potential deduction! When I got my first 1099-K, I only deducted the processing fees and ended up paying WAY too much in taxes. Don't forget about: - Supplies for your services - Any equipment purchases - Mileage if you travel to clients - Portion of phone bill if used for business - Software subscriptions related to your work - Continuing education or training costs - Marketing/advertising expenses TurboTax walks through all these categories, so don't skip them! Your tax bill could be significantly lower.