Form 1099-K FAQs

Find answers to frequently asked questions (FAQs) about Form 1099-K.

What's new

Updated and new FAQs were released to the public in Fact Sheet 2024-03PDF, Feb. 6, 2024.

On Nov. 21, 2023, in Notice 2023-74, the IRS announced that calendar year 2023 would be a transition year for third party settlement organizations (TPSOs). TPSOs, which include popular payment apps and online marketplaces, must file with the IRS and provide taxpayers a Form 1099-K that reports payments for goods or services where gross payments exceed $20,000 and there are more than 200 transactions during the calendar year.