Form 1099-K

All states | 22 types
Form 1099-K Page 1
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5 (10 reviews)
Updated Jan 21, 2025
~ 6 pages
236 downloads
Form 1099-K is used to report payment transactions for goods and services processed through third-party networks. This tax document outlines the total amount of payments received, ensuring proper income reporting to the IRS. Easily complete this form on Lawrina and download a ready-to-use document.
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Document Types
Form 1099
This form is used to report income to the IRS and payment recipients.
352 downloads
Form 1099-A
This form reports the acquisition or abandonment of secured property.
275 downloads
Form 1099-B
This form reports proceeds from the sale of securities or certain barter transactions.
271 downloads
Form 1099-C
This form reports canceled debts of $600 or more, which may be considered taxable income.
269 downloads
Form 1099-CAP
This form reports corporate changes that result in distributions to shareholders.
266 downloads
Form 1099-DIV
This form reports dividends, capital gain distributions, and other investment income.
281 downloads
Form 1099-G
This form reports taxable payments from government agencies.
315 downloads
Form 1099-H
This form reports HCTC advance payments for the recipient.
233 downloads
Form 1099-INT
This form reports interest income to the IRS and payment recipients.
297 downloads
Form 1099-LS
This form reports the transfer or acquisition of a life insurance contract.
225 downloads
Form 1099-LTC
This form reports long-term care and accelerated death benefit payments.
226 downloads
Form 1099-MISC
This form reports an income that is not classified as wages, salaries, or tips.
622 downloads
Form 1099-NEC
This form reports payments to independent contractors or self-employed individuals.
843 downloads
Form 1099-OID
This form reports OID income from financial instruments like bonds or notes.
226 downloads
Form 1099-PATR
This form is used to report taxable distributions or patronage dividends from cooperatives.
223 downloads
Form 1099-Q
This form reports distributions from education savings programs to the IRS and recipients.
221 downloads
Form 1099-QA
This form documents distributions from ABLE accounts for tax and eligibility purposes.
218 downloads
Form 1099-R
This form is used to report retirement and pension distributions to the IRS and recipients.
287 downloads
Form 1099-S
This form is used to report real estate transaction proceeds.
236 downloads
Form 1099-SA
This form is used to report distributions from health or medical savings accounts.
218 downloads
Form 1099-SB
This form is used to report life insurance policy transfers to the IRS and recipients.
220 downloads
1099-k

The 1099 K tax form reports payment cards or third-party network transactions. It captures the total annual gross income received from such transactions. If you've received payments via platforms or credit card processors for goods and services, you’ll deal with a 1099 vs. 1099 K. 

Who Receives a Form 1099-K?

You might get a 1099-K form through:

  • Via payment card transactions. Credit or debit cards processed on behalf of your business.
  • Through third-party networks. Online marketplaces or payment processors.

In 2025, specific rules for 1099 K forms set the threshold for receiving one.

What Is the Deadline To Submit a Form 1099-K?

A 1099 K form must be sent by January 31st. As a recipient, possessing this form before getting your taxes ready is essential. Keeping tabs on these deadlines helps avoid any last-minute tax filing chaos.

Parties Involved

The form 1099-K involves several parties. 

  • Taxpayer. The individual who receives the 1099-K example. 
  • Payment card processors and third-party settlement organizations. They are responsible for preparing and sending out these forms.
  • IRS. The recipient of the information provided through the 1099-K form, ensuring accurate income reporting.

Key Terms

  • Payment Card Transactions. Any payments made through credit or debit cards, as explained in the 1099-K requirements 2025.
  • Third-Party Network Transactions. Payments processed on a platform that settles funds between two parties rather than directly.
  • Gross Income. The overall sum of money obtained before any deductions or costs. 

Steps After Receiving a Form 1099-K

After receiving a form 1099 K,

  1. Review the Information. Check the form details for accuracy and compare them with your records. Mismatches can trigger unnecessary audits.

  2. Understand Your Tax Obligations. The 1099 K 2025 shows the total income. Subtract business expenses to get your actual earnings for taxes.

  3. Familiarize Yourself with the 1099-K instructions. The form has detailed instructions on including this information in your tax return.

  4. Seek Professional Advice. Seek advice from a tax expert If you haven't received a 1099-K. 

Lawrina offers tools to simplify the process. Our PDF fillable tools make managing your tax forms (as 1099-K form PDF) easier and ensure compliance with IRS regulations.