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Self employed
Responses:
1- In 2022, companies such as Zelle, PayPal, Square, Stripe, Venmo, and others will be sending you a 1099-K if you receive more than $600 in payments during the year. This would be the gross payment amount before fees and fees should be reported to you also. Here is a resource that further explains:
2- The $600 dollar limit discussed above applies to each PSE ( payment settlement entity) separately. So if each PSE amounts are under $600 a 1099K will not be generated.
All income from all sources are reported as income on the Schedule C then the expenses are deducted. Here is another resource that discusses this further in our Turbo Tax Self Employed product:
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‎August 31, 2022
1:13 PM