Did you get a 1099-K form? Here's what it is and why more are going out this year
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A new tax form may be coming to your mailbox this year. President and CEO of our sponsor TaxAct explains what you need to know about form 1099-K. | Good Morning America
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A new tax form may be coming to your mailbox this year. President and CEO of our sponsor TaxAct explains what you need to know about form 1099-K. | Good Morning America
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FacebookGood Morning America
Watch this video to understand what to look for on your Form 1099-K and how it may affect your tax return when preparing to file. | CPA Business Advisors
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Watch this video to understand what to look for on your Form 1099-K and how it may affect your tax return when preparing to file. | CPA Business Advisors
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What Do I Need to Know About My 1099-K Tax Form?
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Let’s clear up the $600 rule on payment apps, because there’s a lot of confusion. This rule doesn’t create a new tax. It’s reporting. Once business-related payments hit $600, payment apps are required to send a 1099-K to the Internal Revenue Service. That includes side hustles, freelance work, selling goods, or online sales. What it does not include are true personal payments — like rent splits or reimbursements — as long as they’re marked correctly. Here’s what people miss: Getting a 1099-K doe
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