New 1099-K reporting for payments made more than $600

[beacon1977]

I send $1000 to my son for his college rent every month through Zelle. So his Zelle account will show a monthly deposit of about $1000. How is it going to differentiate the monthly transaction from a payment? Will he be receiving a1099-k for that in 2023?

[VolvoGirl]

That is all still new.  Nobody knows.  Just wait and see what we get next year.  Sounds like it will be a mess.

[Critter-3]

https://www.nbcnews.com/news/venmo-paypal-zelle-must-report-600-transactions-irs-rcna11260

https://www.newsweek.com/what-zelle-cashapp-others-irs-reporting-600-payments-means-businesses-16508... 

https://www.newschannel5.com/news/irs-cracking-down-on-goods-and-services-transactions-through-apps-...

https://www.wjhl.com/news/business-users-on-cash-apps-to-begin-receiving-tax-forms-what-you-need-to-...