Thank you for engaging in the Community space, LeT2023.
Let me share some details of when you can download the 1099-K.
The IRS is delaying the 1099-K threshold change for third-party settlement organizations (TPSO). Taxpayers and small businesses will not receive a 1099-K from TPSOs for the tax year 2023 or the taxes you've filed in 2024 unless the gross amount of reportable payments exceeds $20,000 and the number of such transactions exceeds 200.
You can download Form 1099-K from the Merchant Service Center by January 31st. Here's how:
- Sign in to the Merchant Service Center.
- From the Activity & Reports menu, select Download Form 1099-K.
- Tap Download.
For more details, refer to this link: IRS instructions for Form 1099-K.
Furthermore, this reference answers the most frequently asked questions about Form 1099s in QBO. It includes topics about 1099-NEC, 1099-MISC, and 1099-K.
You may want to print your 1099 forms in QBO to get a physical copy for record-keeping.
Let me know if you need more information about 1099s. The Community is always here to answer your questions. Take care.
