topic If 20000 threshold for 1099K , if I made less,do I need to file Federal business taxes? I live in a state with no income taxes. what about carry overs from last year? in Get your taxes done using TurboTax

If 20000 threshold for 1099K , if I made less,do I need to file Federal business taxes? I live in a state with no income taxes. what about carry overs from last year?

providencegracelove — Thu, 05 Feb 2026 10:31:48 GMT

I am a sole proprietor. I have not received my 1099K. I estimate my total income to be about 17K for 2025.

Re: If 20000 threshold for 1099K , if I made less,do I need to file Federal business taxes? I liv...

VictoriaD75 — Thu, 05 Feb 2026 17:23:03 GMT

Yes. The requirement to file for self-employed individuals is $400 in income. Even if you do not meet the income or transaction threshold to receive a 1099-K, the income must be reported on a tax return.

You are required to report all business income on your tax return, regardless of whether you receive a Form 1099-K, 1099-NEC, or any other tax form. The absence of a 1099-K does not exempt you from reporting income earned from goods sold or services provided.

@providencegracelove

Re: If 20000 threshold for 1099K , if I made less,do I need to file Federal business taxes? I live in a state with no income taxes. what about carry overs from last year?

Opus 17 — Thu, 05 Feb 2026 17:27:13 GMT

Just because not every dollar is reported on a special form doesn't mean it's not taxable income. You are required to report and pay taxes on all your income, even if you don't get forms, with substantial interest and penalties if they catch you.