Form 1099-K

mschafer · 01-13-2022, 09:46 PM

Anyone not familiar with 2022 changes to the 1099-K form needs to know that gross payments for 2021 were $20,000 as of Jan.1 2022 it dropped to $600.This is a IRS information return used to report certain payment transactions to improve voluntary tax compliance. To learn more about this Google 1099-K and read what irs.gov says. The way I interpret this is if you sell anything for more than $600 and it's payed by check,credit or debit card,paypal you will get a 1099K for every transaction.

01-13-2022, 09:46 PM	#1
mschafer Junior Member Join Date: Oct 2014 Posts: 44 Likes: 0 Liked 13 Times in 9 Posts	Form 1099-K Anyone not familiar with 2022 changes to the 1099-K form needs to know that gross payments for 2021 were $20,000 as of Jan.1 2022 it dropped to $600.This is a IRS information return used to report certain payment transactions to improve voluntary tax compliance. To learn more about this Google 1099-K and read what irs.gov says. The way I interpret this is if you sell anything for more than $600 and it's payed by check,credit or debit card,paypal you will get a 1099K for every transaction.