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The $600+ Form 1099-K Threshold is Now Officially Repealed

midas89
  |     |   1,033 posts since 2017

The “$600+ Form 1099-K threshold” is repealed, reverting back to the older $20,000 and 200-transactions standard. For example, if you are receiving PayPal money for goods or services, of course you are still required to pay taxes on the profits, but PayPal is only required to issue you a 1099-K if you have both $20,000+ in money received and 200+ transactions.

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3


Eil
  |     |   31 posts since 2018
That's great news. Didn't realize it was included in the OBBB. It was such a stupid requirement to begin with. Online sellers will be very happy.
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3
choice1
  |     |   374 posts since 2023
Criminally induced so much for digital!
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1
possibly
  |     |   2 posts since 2025
About time! I always ignored those 1099-K forms anyway.
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1


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