this post was submitted on 01 Dec 2023
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909
IRS be like (lemmy.ml)
submitted 11 months ago by [email protected] to c/[email protected]
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[–] [email protected] 2 points 11 months ago (1 children)

Most importantly being that this limit, form, and change is for businesses. This is not for personal accounts.

[–] [email protected] 5 points 11 months ago (1 children)

That is for businesses, Cash app PayPal venmo etc,to report to the IRS that you had this source of income. 1099k has to deal with Internet transactions. This is absolutely for personal accounts.

[–] [email protected] 1 points 11 months ago (1 children)

Payments you got from family and friends should not be reported on Form 1099-K

[–] [email protected] 3 points 11 months ago

Yes, yet this is what people are acting as if this regulations are. Keyword here is should.