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IRS be like (lemmy.ml)
submitted 10 months ago by Grayox@lemmy.ml to c/memes@lemmy.ml
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[-] XeroxCool@lemmy.world 2 points 10 months ago

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

[-] DrPop@lemmy.one 5 points 10 months ago

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.

[-] XeroxCool@lemmy.world 1 points 10 months ago

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

[-] DrPop@lemmy.one 3 points 10 months ago

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

this post was submitted on 01 Dec 2023
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