If you're receiving payments on platforms like Venmo or PayPal, you'll likely get 1099-Ks at tax time. What are they and what do they mean for you.

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year.

PayPal 1099: How to Report Self-Employment Income to the IRS. If you earn money from selling products or services through a third-party provider, like PayPal, you must report that money to the IRS.

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. Updated Thu, Jan 30 2025.

The House of Representatives and the Senate have both proposed changes in the reporting thresholds for Form 1099-K and Form ...

If you're receiving payments on platforms like Venmo or PayPal, you'll likely get 1099-Ks at tax time. What are they and what do they mean for you.

For tax year 2024, the threshold to receive Form 1099-K for payments through payment platforms is $5,000. ... For example, if a person earned $3,000 through PayPal and $2,600 through Venmo, ...

If the client paid you via PayPal, you'll also receive a 1099-K from the payment app for those same earnings. You do not need to report your earnings twice.

If you pay a business using your personal bank or Paypal account, or pay through “Friends & Family” PayPal you do need to ...

If the client paid you via PayPal, you'll also receive a 1099-K from the payment app for those same earnings. You do not need to report your earnings twice.