topic 1099k in Business & farm

1099k

burkheimerk — Tue, 17 Mar 2020 17:53:54 GMT

Does the 1099-k form apply to app development with google and apple?

Re: 1099k

KarenM90 — Tue, 17 Mar 2020 18:12:15 GMT

It depends. A 1099-K can apply to any type of entity that accepts credit cards and similar payments.

IRS requires payment-settlement entities to use to report certain payments received through reportable payment card transactions and/or settlement of third-party payment network transactions.

Re: 1099k

BillyPatMac — Mon, 23 Mar 2020 21:37:27 GMT

I have received a 1099-K for $32 for one sale in December and nothing since nor anticipated in the future. Is this a reportable transaction?

Re: 1099k

JohnW222 — Mon, 23 Mar 2020 21:47:10 GMT

Yes, it is.

Please see the TurboTax Help article “How do I enter a 1099-K in TurboTax Online?” for guidance.