PatriciaV
Expert Alumni

Investors & landlords

Form 1099-K is an IRS tracking tool for third-party payment processors. It's not unusual for non-income activity to be reported on a 1099-K, by the very nature of the reporting entities (credit cards, PayPal, etc.). Keep good records so you can document the purpose for these payments in the unlikely event the IRS requests more information. As long as you report all your actual income, you have satisfied the IRS requirements.

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