The form indicates what it is reporting. See the box Check to indicate transactions reported are on IRS Form 1099-K.
IRS Form 1099-K Instructions differentiates between:
- payment card transactions (checking the first or top box) and
- third party network transactions (checking the second or bottom box).
Page 4 states:
Transactions Reported Checkboxes
Check the first (top) box if you are reporting payment card transactions on this form. Check the second (bottom) box if you are reporting third party network transactions on this form. If you are reporting payments to the same payee that include both payment card and third party network transactions, you must file a separate Form 1099-K reporting the gross amount from each type.
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