NetMoneyLab ยท Oct 19, 2026
if payments through a marketplace or payment app pass $20,000 across more than 200 transactions, you generally get a Form 1099-K, and card processors send one at any amount.
The IRS page, last updated June 28, 2026, splits it in two:
Not automatically.
Use this short checklist when the form arrives:
Per the IRS, gig workers, freelancers, hobby sellers and other self-employed people are generally sole proprietors and report on Schedule C (Form 1040).
The IRS gives different treatment depending on the result:
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