Understand how Intuit makes Form 1099-K

Learn how and why Intuit generates a Form 1099-K.

What’s a Form 1099-K?

• Form 1099-K is an IRS form used to report payment card and third-party network payments. The IRS requires payment providers like Intuit QuickBooks Payments, to report payment card and third-party network transactions and furnish 1099-K forms.
• It’s provided to Intuit QuickBooks Payments customers when an account meets specific criteria:
  • Your Intuit QuickBooks Payments account is based in the U.S.
  • The gross total of your payment card transactions exceeds $20,000 and 200 transactions in the previous calendar year; or
  • As required by your state.
• It’s designed to help you report your taxes. It summarizes the sales activity of your Intuit QuickBooks Payments account.
• It's provided to you, the IRS, and some US states.
• It’s issued by Intuit to all eligible US based customers who accept credit card payments.

What does this mean?

For tax year 2025, you'll get a Form 1099-K If your Intuit QuickBooks Payments account is based in the U.S. and the gross total of your payment card transactions exceeds $20,000 and 200 transactions.

Filing requirements for some states can differ from the IRS and have lower reporting thresholds.

Note: Prior to tax year 2025, the IRS 1099-K threshold applied to QuickBooks Payments accounts  based in the U.S. and having $5,000 in total gross volume.

How do I download my 1099-K?

You can download your Form 1099-K from the Merchant Service Center by January 31. Here's how.

1. Sign in to the Merchant Service Center.
2. From the Activity & Reports section, select Form 1099-K.
3. Select Download.

How can I update the taxpayer info on my QuickBooks Payments account?

You can change your taxpayer info for the current tax year up to March 31 of each calendar year. If you need to verify or update the taxpayer info on your QuickBooks Payments account, visit the Merchant Service Center. See Update business and account info for QuickBooks Payments for detailed steps.

Important: If you received a 1099-K but didn't open a QuickBooks Payments account or haven't processed card transactions, you may be the victim of identity theft. If you believe you’ve received a 1099-K in error and may be the victim of identity theft, send us an email at 1099_risk@Intuit.com. We’ll reply to your email with detailed instructions.

Find out about IRS report requirements for payment processing accounts and details on Form 1099-K.