Hi ryusan, thanks for posting the question.
Quote
make sure payments to you or others are properly classified as an amount paid for something other than goods or services where possible. On sites like PayPal and Venmo, a payment can be designated whether it is to family and friends or a business transaction for goods and services. This designation will determine if the transaction(s) result in the issuance of a Form 1099-K.
Unquote
TAS Tax Tip: Use caution when paying or receiving payments from friends or family members using cash payment apps
https://www.taxpayeradvocate.irs.gov/news/tas-tax-tip-use-caution-when-paying-or-receiving-payments-...
Hope the above clarifies.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
