CashoutGlossary / Form 1099-K
Form 1099-K
The IRS form reporting card and payment app payments you got for goods or services, sent by apps for 2026 above $20,000 and 200 transactions.
Form 1099-K reports payment card and third party network transactions: money you received for goods or services through card payments and payment apps. Card and app payments go on the 1099-K, not on a 1099-NEC.
For 2026, a payment app or similar third party network has to file one only when your payments for goods or services total over $20,000 and there were more than 200 transactions. The One Big Beautiful Bill reinstated that threshold retroactively. You may still get a 1099-K below it.
The amount in box 1a is gross. It is figured without subtracting fees, refunds or other adjustments, so your own records decide what you actually earned. New for 2026, box 1c shows the cash tips included in box 1a, which matters for the self-employed tips deduction.
If you work for yourself, the income belongs on Schedule C. If you get a 1099-K you shouldn't have, or one with the wrong amount, contact the issuer, report your gross receipts from your own books and records, and keep the form and all correspondence.
Common mistake: assuming that no 1099-K means the money isn't taxable. Whether or not you receive the form, you must still report the income on your return.
Related terms
Form 1099-NEC · Schedule C · Credit card tip · Independent contractor
