1099-K
Payment Card and Third Party Network Transactions
Form 1099-K reports the gross amount of payments a seller received through payment cards or third party payment networks during the year. If you sell goods or services and customers pay by card, or through an online marketplace or payment app, the company that settles those payments may send you this form and file a copy with the IRS.
The filer is called a payment settlement entity (PSE). It is either a merchant acquiring entity, such as a bank that pays participating payees for card transactions, or a third party settlement organization (TPSO), such as a payment app or online marketplace. The seller does not fill out the form.
Box 1a shows the gross amount, which is not adjusted for fees, refunds or returns. If you receive one, you still report your income on your own return. The IRS publishes pages called Understanding your Form 1099-K and What to do with Form 1099-K for recipients.
Names, addresses and TINs, plus checkboxes for whether the filer is a PSE or an electronic payment facilitator, and whether the form reports payment card or third party network transactions. Separate forms are needed for each type.
1a gross amount of reportable transactions, 1b card-not-present transactions such as online or phone sales, 1c cash tips included in 1a, 1d Treasury Tipped Occupation Codes.
Four-digit merchant category code. Leave blank if the filer is a TPSO or does not use an industry classification system.
Number of payment transactions, excluding refunds.
Federal income tax withheld, which is backup withholding.
The gross reportable amount for each month of the year.
Optional state information for up to two states: state, filer's state ID number and state income tax withheld.
Check the box showing whether you are a PSE or an electronic payment facilitator, and which type of transactions this form reports. Use a separate form for each type.
Enter the payee's name, address and TIN. You may truncate the payee's TIN on the payee statement but not on the IRS copy.
Required when a payee has multiple accounts and more than one Form 1099-K. The IRS encourages using one number across all the forms.
Enter the gross amount of all reportable transactions, with no adjustment for credits, fees, refunds, shipping or other amounts.
Enter card-not-present transactions in 1b, cash tips in 1c, and up to two Treasury Tipped Occupation Codes in 1d. Use 000 if any tips came from a nonqualifying occupation.
Count the transactions without refunds, then enter each month's gross amount.
Enter backup withholding, which applies to box 1a amounts when the payee did not give a TIN in the required manner.
You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.
The General Instructions for Certain Information Returns list the due dates each year. For 2025 returns, paper filing with the IRS was due March 2, 2026 and electronic filing March 31, 2026.
Filers with 10 or more information returns in total must file electronically. Paper filers send Copy A with Form 1096.
You must furnish a statement to each payee. It may be furnished electronically. Payees use Copy 2 for their state income tax returns where applicable.
The instructions refer to Publication 1099 part O and mention penalties under sections 6721 and 6722 for filers.
Combining card and third party network transactions on one form, using the wrong box for card-not-present sales, and adjusting box 1a for fees or refunds.
1099-NEC
140 fields, 6 pages
W-9
23 fields, 6 pages
1099-MISC
179 fields, 6 pages
1096
55 fields, 3 pages
W-2
568 fields, 11 pages
A payment settlement entity files a form for each payee it settles transactions for.
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A payment settlement entity, such as a card processor, payment app or online marketplace. You receive a copy as the seller.
The instructions say a TPSO reports third party network transactions when the gross amount for the year exceeds $20,000 and the number of transactions exceeds 200.
Box 1a is the gross amount with no adjustment for credits, fees, refunds, shipping or other amounts.
Yes. Payments by credit card or a third party network are reported on Form 1099-K, and the payer does not report them on Form 1099-NEC.
The IRS has pages titled Understanding your Form 1099-K and What to do with Form 1099-K for recipients, linked from its Form 1099-K page.
