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Threshold 1099-K

If you didn't receive payments greater than $5,000 during the tax year nor have federal withholding tax deductions, you won't be issued a 1099-K form.

A Form 1099-K is issued for payments made in settlement of payment card and third-party network transactions where there are payments greater than $5,000 during the tax year to a US Citizen/Resident deriving US Source Income. This applies to all types of recipients (ie. corporations are not excluded).

For more information see instructions for form 1099-K and additional 1099-K information from the IRS. 

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