For 2022, if you receive more than $20,000 and 200 transactions for business payments on a P2P platform during the tax year, the platform is required to send Form 1099-K to you and the IRS. This threshold is reduced to $600 without regard to the number of transactions beginning in 2023.
You are still required to report this income on your tax return. You can do this by using Form 1040 Schedule C. This form is for self-employment income and expenses.
Here's how to add your self-employment income:
Is it for self employment work? You need to report all your income from your own records.
You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.
How to enter income from Self Employment