Understanding Your Form 1099-K with the IRS

September 6, 2023 | 10:00 AM - 11:00 AM

Form 1099-K is a report of payments you got during the year from:
  • Credit, debit or stored value cards such as gift cards (payment cards)
  • Payment apps or online marketplaces (third-party payment networks)
Third-party payment networks are required to file Form 1099-K with the IRS and provide a copy to you when the gross payment amount is more than $600. Form 1099-K should not report gifts or reimbursement of personal expenses you received from friends and family. Use Form 1099-K with other tax records to help figure and report your taxable income when you file your taxes.

You should attend this event if you accept payment cards or accept payments from third party payment apps and online marketplaces in your small business, your side hustle, or when selling personal items online.

Discussion Points:
  • Who Will Receive Form 1099-K
  • How to Report Form 1099-K Income
  • What to do When Friends and Family Send Money via Payment Apps
  • How to Report Sale of Personal Items
  • What to do With my Incorrect Form 1099-K
There will also be a live Q & A. 

This webinar will be presented through Microsoft Teams. It will not be recorded. 

Find out more here!

Stay in touch

Trying to keep up with everything that's happening in your Lincoln Park neighborhood? Subscribe today for email updates based on your interests.