Not really. The credit card company will issue a 1099-K. You would issue a 1099-NEC or 1099-Misc. These are totally different forms. The IRS looks at the 1099-K differently. It is more of a compliance form instead of an income reporting form.
Basically, if someone receives a 1099-K for say $32,000 and only reports income of $10,000 to the IRS it will raise a red flag so the IRS will take a deeper look. If you receive the 1099-K for $32,000 and report total income of $85,000, for the most part, the IRS will assume the amount on the 1099-K has been included in the total reporting of your income.
There is no specific place to report the income shown on the 1099-K on your tax return. It is simply another method the IRS make sure all income is being reported.
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