The reporting requirement for issuing a 1099K lies with the company that it issuing the 1099K to you. the income that s new threshold for reporting requirements for 1099K is over $20,000, and for which there are more than 200 transactions. Companies can still still send the form if transactions total over 600.00 for the . Companies may still issue the forms for totals over $600. See HERE under Subcaption "Reporting threshold."
Regardless of the threshold amount, you would need to enter any earned income amount that is taxable whether you received a 1099K or not.
However, once you received the 1099K, enter it as follows;
1- In Turbotax, click on the searchbar in the upper right hand corner and type in 1099-K
2- Hit Jump to 1099-K
3- On the next screen, hit Add a 1099K
4- On the next screen, when they are asking "Which type of income is your 1099-K for, you will describe what that income was for.
5- On the following screen, you will enter all the details from your 1099-k
6- And then depending on why you got this 1099k for, you will enter in all the details in the screens to follow.
7- When you are finished with everything, you will click "Done!"
[Edited 02/13/2024:15 pm PST]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
