@iable wrote:
I didn't realize the CC company issues a 1099-K, I just knew it was a 1099 and assumed it was the same as the one we issue.
Thanks for pointing that out!
Correct. The 1099-MISC and 1099-NEC specifically tell the IRS "My business paid this person $X amount for goods or services." The 1099-K is for the payment processor to report any kind of financial activity, the activity might or might not be taxable.
