Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.

Learn about the basics of Form 1099-K, changes to the reporting threshold, and what this means for your business.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

Common examples for when people could be surprised by a 1099-K include selling concert tickets for substantially elevated prices, like those for the Taylor Swift Eras Tour, which ran through 2024.

1099-K tax rules: What to know if you get paid via Venmo or PayPal A change to the reporting requirements for IRS Form 1099-K will impact millions of taxpayers ...

Form 1099-K may have errors when nontaxable categories are included and the payer didn’t add a note about what the payment was for.

The IRS announced that it would delay the new $600 Form 1099-K reporting threshold for third-party settlement organizations for 2023.

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.