1099-K Issued For Under 200 Transactions Or 20k (Under 20 & Under $1,000)
So I've seen the 200 items and $20,000 being thrown around being somewhat of a threshold for Paypal to send out a 1099-K to you. I've received several so far this year, and one of them struck me as odd.
This particular 1099-K was around $750 with around 20 transactions for the year. It was a business account, so maybe that plays into why it was issued vs a personal account.
I guess anyone with stealth accounts that DID receive 1099-K's wouldn't know as they typically do not control the address on the account. I was just wondering if they were now doing 1099's for earnings of $600+ which is actually what the IRS requires for independent contractors,etc.
Anyone else received 1099-K's on personal accounts under the supposed limits?
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