1099 under 20k Michigan
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I received a 1099 for 14k which is under the 20k threshold. Why did I receive a 1099? I’m in Michigan.
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Hi @temp20220130,
Thank you for your post and welcome to the community as a new member!
I understand that you received an unexpected 1099-K for Goods and Services volume that does not meet the threshold required. One reason why this might be is if there are multiple accounts that have transacted in 2021 using the same Tax ID or SSN. Another reason would be if you live in, or have lived in, and of the states that require a 1099K at a lower threshold. These states include Vermont, Massachusetts, Virginia, Maryland, and Illinois. If there's an address on your account in any of those states, that would affect the necessity for a 1099K.
Though not directly related to your question, it is also important to note that the thresholds will be different for the 2022 tax year.
I hope this helps!
Olivia
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