Key Takeaways
- Form 1099-K is an IRS information return that reports payments you received from payment card processors, payment apps, and online marketplaces for the sale of goods or services.
- For the 2025 tax year, a 1099-K form must be sent if the payments you receive from a payment app or online marketplace exceeds $20,000 and 200 or more transactions, or if you receive any amount as payments from a payment card processor.
- You should receive any 1099-K forms for a tax year by January 31 of the following year. For example, forms for the 2025 tax year are due by January 31, 2026. The due date is pushed to the next business day if it falls on a weekend or holiday. The forms are typically mailed to you, but some payers make them available online.
- The total amount of payments you receive from a payer are reported on Form 1099-K, but you typically only have to pay tax on any…
