1099-KPayment Card and Third-Party Network Transactions
Reports income from payment processors like PayPal, Venmo, Stripe, Etsy, or Uber when you exceed reporting thresholds.
Who needs to file this form
Payment settlement entities (PayPal, Venmo, Stripe, Square, Etsy, eBay, Uber, etc.) send a 1099-K when your gross payments exceed $20,000 AND you had more than 200 transactions. The One Big Beautiful Bill Act of 2025 set this threshold. Even if you don't receive a 1099-K, all income is taxable.
Key Deadlines
Payment processor must send 1099-K to you
January 31, 2027
File return reporting this income
April 15, 2027
Step-by-Step Filing Guide
Review the 1099-K for accuracy
The 1099-K shows gross payments, which may include refunds, returns, and personal transactions. The gross amount may be higher than your actual business income. Document any personal or non-income transactions included in the total.
Determine where to report the income
If this is self-employment income: report on Schedule C. If it's from selling personal items at a loss: you may not owe tax, but you should still report and explain the difference. If from investment activity: it may go on Schedule D.
Subtract business expenses if self-employed
If this is business income on Schedule C, deduct all ordinary and necessary business expenses: platform fees, shipping costs, supplies, cost of goods sold. The 1099-K reports gross revenue, not profit.
Reconcile with other 1099 forms
Income reported on a 1099-K may overlap with a 1099-NEC from the same payer. Don't double-report. If a platform sent both forms, make sure you understand what each covers and report the correct total.
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