Question
Payment issued by insurance company on a 1099-K
Client received a 1099-K from PayPal that was for a payment issued by his insurance company for damage caused by a tree falling on his home. Pro-series is treating this as if it was a payment made for a purchase or business transaction. Is there a way to record the money then pull it back out? I found one article that say's on Sch 1 put the figure in and it cancel's, tried that but it didn't work. Any and all feedback is welcome.
