Should I include my 1099-K form in my tax return if no federal income tax was withheld?

[RichardK]

Yes, Form 1099-K was introduced to report income received from electronic payments, such as credit cards, debit cards, Google Checkout, PayPal and other payers.

You should receive this form if you received payments from electronic or online payment services, or credit and debit card transactions. If you didn't get the form, they are only required when there are more than 200 transactions and the gross payments exceed a certain amount.

This form reports earnings information to individuals and businesses to be included on their tax returns. The IRS is establishing a compliance program using the data they collect with this form.

Enter the reported income and retain any 1099-Ks you receive for your records.

[herrd89]

Hello just for clarification, so as long as there are less than 200 transactions and is below certain amount (mine is less $1,000.00 for year 2017) I do not need to include it in tax return?