The IRS requires each payment settlement entity to send a form 1099-K to any individual or merchant entity for whom it has processed at least $20,000 worth of payments and/or at least or 200 transactions in the previous year. I am presuming the amount is at least $20,000.
You shouldn't have to report it to the IRS as you don't have a corresponding 1099 Misc as most other recipients of a 1099-K would. In any case it was a refund for a security deposit anyway.
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