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julybaby85
New Member

I receive alot of $ thru GooglePay, i might exceed the 200k threshold. GP said they send a 1099-k form to the IRS if this happens, but didnt explain what i have to do?

 
2 Replies
Critter
Level 15

I receive alot of $ thru GooglePay, i might exceed the 200k threshold. GP said they send a 1099-k form to the IRS if this happens, but didnt explain what i have to do?

All you need to do is report ALL your income from ALL sources on the Sch C then you don't have to worry about what income is reported by any company on any tax forms ... note the 3 places to enter the income in the program ... second mentions the 1099-K. 

julybaby85
New Member

I receive alot of $ thru GooglePay, i might exceed the 200k threshold. GP said they send a 1099-k form to the IRS if this happens, but didnt explain what i have to do?

Thank you!

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