PAYMENT APPS & TAXES

Will you get a 1099-K?

The $600 rule is gone

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Threshold

$20,000

In payments

And more than 200 transactions.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Both

REQUIRED

To get a form

Under 200 sales means no 1099-K.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Old rule

$600

Repealed

The 2025 law restored $20,000.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Still taxable

YES

Side income

Report it even without a form.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Personal sales

LOSS

Not taxable

Selling used items for less.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Freelance

$2,000

1099-NEC

New threshold for 2026 payments.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Self-employed

15.3%

SE tax

On net earnings of $400+.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Forms arrive

JAN. 31

2027

Check every app you use.

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0

Know what to report

Full guide and FAQ

Read the guide

nexgenheadlines.com

Photo: Richard Tanzer / VeroPay, CC BY-SA 3.0