The 1099-K reports gross amounts. The amount does not include any refunds, fees, or other adjustments. The Gross amount figures are counted at the date of sale/booking, not at the date of deposit.
Articles in this section
- I don’t want a 1099-K, I already report my income to the IRS – why do you need to report as well?
- You’ve issued my 1099-K to my LLC, but my LLC was not set up until June 30 of last year. I need the volume split between my SSN and my LLC’s EIN
- You’ve issued the 1099-K form to me as an individual, but I have separate LLCs set up for my listings/properties
- What do I do if I think my Form 1099-K is incorrect?
- What do I do with the information on Form 1099-K?
- What if my TIN or Legal Name is different than what the IRS has?
- How is “Legal Name” defined?
- Why is the 1099-K amount so much higher than the amount of my deposits for the year?
- How is the “gross amount” defined on the 1099-K?
- What is the purpose 1099-K reporting?