No, and there is no need to include in the description that the 1099-K was sent in error. The reporting requirements for 1099-Ks changed for 2022, and then the implementation of those proposed changes was postponed. However, whatever the reporting requirements are, firms are not prohibited from sending their customers a 1099-K even if they are not required to do so. If they choose to send one, whether required or not, they will also forward a copy to the IRS. Thus, it's appropriate to report the 1099-K on a tax return.
@drewcrawford03
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
