Why 1099k for me?
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I use Paypal's personal account to receive some reimbursements (not for income), that are under 5k USD and less than 100 transactions. Paypal has issued me a 1099k, although the threshold to issue 1099k is 20k USD and at least 200 transactions.
1- Why am I issues 1099k
2-Is it necessary for me to include it in my tax returns even though I am well below the threshold?
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I have only 1800 $ and less than 50 transactions and they still sent me 1099 k, I also got the reimbursements or gifts from friends and family. Looking for answers just like you.
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Do you live in any of the states with lower reporting thresholds? Like VA, MA, VT?
If so, you got the form because your sales exceeded the state's reporting threshold
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