Fill out 1099-K (Payment Card and Third Party Network Transactions) online
Form 1099-K reports payments received through payment card transactions (credit, debit) and third-party payment network transactions (PayPal, Venmo, Stripe, etc.). Reporting thresholds are subject to IRS phase-in rules and can change by tax year.
How to fill out 1099-K (Payment Card and Third Party Network Transactions)
Enter filer and payee information
Fill in the payment settlement entity's name, address, phone, and TIN. Enter the payee's name, address, and TIN.
Report gross payment amounts
Enter the gross amount of payment card transactions in Box 1a. Report third-party network transactions in Box 1b. The total of all reportable transactions goes in Box 1.
Break down by month
Report the gross amount of transactions for each month (January through December) in Box 5a through 5l. The monthly totals should equal the annual amount in Box 1.
Report withholding and state information
Enter any federal income tax withheld (backup withholding) in Box 4. Complete the state information section if applicable.
About 1099-K (Payment Card and Third Party Network Transactions)
Who needs this form
Payment settlement entities (banks, payment processors) and third-party settlement organizations (PayPal, Venmo, Etsy, eBay) that process payments exceeding the reporting threshold. They issue the form to the payee (seller or service provider).
Where to submit
Payment processors file Copy A with the IRS by the applicable IRS filing deadline for the filing year (paper and electronic deadlines can differ). They send Copy B to the payee by the deadline listed in the latest official instructions.
Source and content freshness
- Reviewed: 2026-02-16
- Check the latest official form instructions for the filing year that applies to you.
- Filing deadlines may shift for weekends and holidays. Verify due dates with official instructions.
Common mistakes to avoid
- Reporting the gross 1099-K amount as income without subtracting business expenses
- Double-reporting income already reported on a 1099-NEC or other form
- Not reporting personal transactions that were incorrectly included on the form
- Confusing gross payment volume with taxable income
Frequently asked questions
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I received a 1099-K for personal transactions. What do I do?
If your 1099-K includes personal transactions (selling used items, splitting bills with friends), you do not owe tax on those amounts. Report the full 1099-K amount on Schedule C or Schedule 1, then subtract the personal portion as an adjustment. Keep records to support the personal transaction amounts.
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