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Third-party networks must issue Form 1099-K to taxpayers if they receive income over a specified amount for the tax year, this amount can be different from one tax year to another, see 1099-K Reporting Requirements.
Third-party networks include apps such as Venmo, Uber, Lyft, Cash App, PayPal, E-bay, etc.
Taxpayers must report Form 1099-K on their tax return as income if the funds were received for the sale of goods and services.
If amounts on Form 1099-K are incorrect the taxpayer should contact the issuer.
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Completing Form 1099-K
Select Add Form.
Locate and select highlight Form 1099-K in the All Forms & Schedules Menu. Double-click to add the form.
If a joint return, choose New Taxpayer's or New Spouse's Occurrence.
Complete the 1099-K, filling in all applicable sections.
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