How to split a 1099k?

[Drroftarcdt]

Hello,  I took over the business I work for last Nov.1st. Square support said I could just change the EIN for the new business,  keep the same account,  and everything would be fine.  Now I have one 1099k filled under the new EIN for the whole year. I need January through October 31st filed under the old EIN,  and November through December under the new EIN. Square support says they will not split my 1099k and I need to consult a tax professional.  Who should I consult? I'm totally lost here. 

[Kassi_]

Hey there @Drroftarcdt  -

Welcome back to the Community! 

Right now, we don't have the ability to split your 1099-K form. I would suggest reaching out to your tax professional on how to proceed with your taxes during that time frame. 

[Heathmilt]

Okay here is a question. With the square account I currently use I had to create a new one. Me and my wife had a square account with our store we just sold and the buyers took over our account. They updated the EIN and all tax info in the system to their tax IDs, state tax id, employer tax id and all. How do we get our year end tax docs (w3, 940, and 1099k) sent to us with our prior tax IDs or is everything now going to go to their tax ID since the system was updated with their tax IDs? Is square able to separate the tax forms based on the tax IDs changing and separate the forms based on the date if I give them the date it all changed? I have a feeling that square may just treat this as an update to the tax ID numbers and the new owners may be assuming all the tax liability for our sales plus their sales now with their tax IDs being in the system now. Please let me know. Thank you 

[JustinC]

Hey @Heathmilt!  I'm afraid you're right - Square is unable to split 1099k forms to reflect different tax EINs form a certain date. 

If the tax info was changed after March of this year, all sales will report under the new EIN for 2020 going forward. 

As for the Payroll Tax forms, I'd reach out our Payroll Team so they can provide clarity on how to proceed. ​​​​​​​