Your 1099-K is a gross report of all the electronic deposits you’ve received from Innago during a tax year. Since this is a gross report, this means that any refunds, reversals, credits or any other relevant adjustments will not be accounted for on the 1099-K. It will be best for you to consult with an accountant or a tax professional with any concerns about this to discuss what filing options you have available.
Please note, because the 1099-K only reports deposits you may need to use the filter tool on your Income or Reports page in order to reconcile reports appropriately. For example, a payment is submitted by a tenant December 30th, but the funds don’t deposit into your account until January 2nd. These funds would not be reported on the 1099-K for the previous year, since we will only report income based on when the deposit was received, per IRS regulations.
For more information, please see the following links from the IRS’ website:
https://www.irs.gov/businesses/understanding-your-form-1099-k
https://www.irs.gov/newsroom/form-1099-k-faqs-general-information