this post was submitted on 01 Dec 2023
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IRS be like (lemmy.ml)
submitted 9 months ago by Grayox@lemmy.ml to c/memes@lemmy.ml
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[–] DrPop@lemmy.one 5 points 9 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.

[–] XeroxCool@lemmy.world 1 points 9 months ago (1 children)

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

[–] DrPop@lemmy.one 3 points 9 months ago

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