dankwak93
New Member

I received 1099k through cashback/rebates. Do I still have to report to IRS?

I found an article that says

The IRS requires each payment settlement entity to send you a Form 1099-K by January 31 if it has processed at least $20,000 worth of payments and at least 200 transactions for you in the previous year.

But you still could receive 1099-Ks from some PSEs even when the form isn’t required by the IRS. Many PSEs send 1099-Ks to all their vendors, even if they’ve only processed a handful of transactions and fall well short of the $20,000 threshold.

If this is true, does that mean I don't have to report to IRS?