Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

Fact checked by Vikki VelasquezWhether you sell vintage clothing on eBay or rare baseball cards, it may be challenging to keep up with the various tax rules and obligations of being a reseller.

The IRS again delays law that would have required Ticketmaster, Venmo, and others to issue 1099-Ks to those with more than $600 in revenue in 2023.

1099-K threshold for the 2024 tax year Taxpayers selling goods and services on online marketplaces or using third-party payment apps will typically receive a 1099-K form.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

1099-K tax rules: What to know if you get paid via Venmo or PayPal A change to the reporting requirements for IRS Form 1099-K will impact millions of taxpayers ...

An IRS 1099-K threshold change will impact millions of tax bills beginning with this filing season. But could a bigger change lie ahead?

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

How do you file a 1099-K? You'll include the income you earned that's listed on your 1099-K by filing a Schedule C (an IRS form that reports profits or losses from your business).

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.