- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes, all income from all sources is to be entered on a tax return.
Go to this IRS website for what you are referring to - https://www.irs.gov/businesses/understanding-your-form-1099-k#threshold
Third party settlement organizations (TPSOs) – which means (payment apps and online marketplaces – are required to report payments on Form 1099-K when the total amount of payments you receive for goods or services through the platform exceeds:
- $5,000 in 2024
- $2,500 in 2025
- $600 in 2026 and after
Although the reporting threshold is phased, you may receive a Form 1099-K even when total payments are less than the reporting threshold. No matter the amount of reported payments, if you receive payments for selling goods or services, you must report all income on your tax return.
March 30, 2025
7:41 PM