Form 1099-K, Payment Card and Third Party Network Transactions
Form 1099-K is issued by payment processors and platforms like card networks and payment apps to report the payments they settled to you. Fill in the official IRS PDF below.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is 1099-K?
Form 1099-K, Payment Card and Third Party Network Transactions, is filed by payment settlement entities, the card processors and third-party networks that move money to sellers. It reports the gross amount of reportable payment transactions settled for a payee during the calendar year, broken out by month, along with card-not-present amounts and any federal withholding.
The reporting threshold for third-party network transactions has changed several times in recent years, so check the current Form 1099-K instructions at irs.gov for the amount that applies to the year you are filing. Payment card transactions are reportable with no minimum threshold.
Who files 1099-K?
- Payment settlement entities such as merchant acquirers that settle payment card transactions
- Third-party settlement organizations, including payment apps and online marketplaces, that settle payments above the current reporting threshold
- Electronic payment facilitators filing on behalf of a PSE
- Sellers and gig workers receive the form; they do not file it
How to fill out 1099-K
- Enter the filer’s name, address, and TIN, and check the box for the filer type: PSE or EPF, and payment card or third party network.
- Add the payee’s TIN, name, address, and account number, plus the PSE’s name and phone number if applicable.
- Report the gross amount of payment transactions in box 1a, card-not-present transactions in box 1b, the merchant category code in box 2, and the number of transactions in box 3.
- Break the gross amount into the monthly boxes 5a through 5l, and complete box 4 and the state boxes if tax was withheld.
- Download the PDF, furnish a copy to the payee, and file Copy A with the IRS electronically or on official scannable stock.
Quick fill 1099-K on this page
Prefer to see the form itself while you type? Open 1099-K in the editor to fill it on the actual pages, add a signature, and download.
Frequently asked questions
Does a 1099-K mean I owe tax on the whole box 1a amount?
Not necessarily. Box 1a is the gross amount settled, before fees, refunds, and cost of goods. You report your actual income and expenses on your return, for example on Schedule C.
I got a 1099-K for personal payments between friends. What should I do?
Personal gifts and reimbursements are not taxable income. The IRS website explains how to note an incorrectly issued 1099-K on your return; you can also ask the issuer for a correction.
What is the current 1099-K reporting threshold?
Congress has changed the third-party network threshold more than once, so rely on the current instructions at irs.gov rather than an older summary. Payment card transactions are reported regardless of amount.