TurboTax HelpIntuitWhy did I receive a 1099-K even though it's below the IRS threshold?
by TurboTax•181• Updated 2 months ago
Form 1099-K tracks income you made from selling goods or providing services via payment apps and online marketplaces. Examples include PayPal, Venmo, Square, Etsy, Uber, and Ebay.
You should receive a 1099-K if you made more than $5,000 on one of these platforms.
Even if you don't receive a 1099-K, or you make less than $5,000, you still need to report all taxable income to the IRS.
However, some states have lower 1099-K filing thresholds than the IRS:
- Arkansas-$2,500
- District of Columbia-$600
- Illinois-$1,000 and 4 transactions
- Maryland-$600
- Massachusetts-$600
- Montana-over $600
- New Jersey-$1,000
- North Carolina-$600
- Rhode Island-$100
- Vermont-$600
- Virginia-$600
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