Yes. You must report all income on your tax return. The IRS compares the information from their 1099-K copy against what you enter from your 1099-K copy. if yours is missing, they will send you a letter asking why.
The reporting threshold for third party settlement organizations, which include payment apps and online marketplaces, was changed to $600 by the American Rescue Plan Act of 2021. The IRS announced a delay in implementing this change for tax year 2023, which covers tax returns generally filed in early 2024.
Although the Form 1099-K reporting threshold for 2023 is $20,000, companies could still send the form for totals over $600.
No matter the amount, if you receive payments for selling goods or services or renting property you must report your income.
IRS - Understanding your Form 1099-K
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