Thank you ! 🙂 very helpful and then I read this on the IRS website as of this response. Is all of this a moot point but TT has setup the application as worse case scenario in event the IRS reverse course ?
See section beginning with Pursuant to Notice 2023-10, for calendar year 2022,
https://www.irs.gov/newsroom/form-1099-k-frequently-asked-questions-general
What's New
On December 23, 2022, the IRS announced that calendar year 2022 will be treated as a transition year for the reduced reporting threshold of more than $600 that was to go into effect for information returns due in 2023. See Notice 2023-10PDF. Pursuant to Notice 2023-10, for calendar year 2022, third party settlement organizations who issue Forms 1099-K, Payment Card and Third Party Network Transactions, are only required to report transactions where gross payments exceed $20,000 and there are more than 200 transactions.
