Pay platforms like Venmo transactions now being taxed by the IRS?

Do we have to declare all pay platform transactions like Venmo or Zelle?

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Yes, you have to report your 1099-K or 1099-NEC that you receive, but no, not all transactions are taxable.

Exactly how you report your 1099 from a payment platform depends on what is on your 1099. Follow this link for an explanation of how to report these transactions.

If you still have questions after reading that article, reply back with more details about why you received a 1099 from Venmo or Zelle.

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