fiona112
Expert Alumni

Get your taxes done using TurboTax

Hello @erinmcgrane,

The reporting requirements have recently changed. Payment apps and online marketplaces are required to file a Form 1099-K if the gross payments to you for goods and services are over $600.  If you received the 1099-K from your business transactions you would include the 1099-K as income.  If the 1099-K was generated gifts or reimbursements from family or friends you should contact the Issuer of the 1099-K to correct it.

 

What is Form 1099-K?

Did You Get a Form 1099-K and Aren’t Self-Employed or a Small Business?

What Online Business Owners Should Know about IRS Form 1099-K

 

 IRS:   Understanding Your Form 1099-K