Free tool
1099-K Checker
Payment apps and online marketplaces must report payments for goods and services above $20,000 in more than 200 transactions. Card processors report every merchant. Enter your numbers for one platform at a time.
What it means for your return
- 01
Report all income from goods and services, whether or not you get a Form 1099-K (including cash).
- 02
Box 1a is the gross amount. It isn’t reduced for fees, refunds, shipping or discounts; those can be subtracted using your records.
- 03
Self-employed, gig and freelance income generally goes on Schedule C. Partnerships and corporations report it on their own returns.
- 04
Personal payments from relatives or friends (gifts, splitting a bill, repaying rent) aren’t taxable and shouldn’t be on a 1099-K. If they are, ask the issuer for a corrected form.
- 05
Selling a personal item at a loss isn’t taxable, but it still has to be handled correctly if it shows up on a 1099-K.