IRS 1099-K 2026: The $600 Rule Is DEAD — Back to $20,000 (5 Rules)

Описание: The IRS just changed the 1099-K rules again. For 2026, payment apps like Venmo, Cash App, and PayPal only have to send you a Form 1099-K if you receive MORE than $20,000 in goods and services payments AND more than 200 transactions in the same year. The dreaded $600 threshold never actually happened — but no form does NOT mean no tax. Here are the 5 rules every side hustler needs to know before January.

KEY FACTS COVERED:
• 2026 threshold: over $20,000 + over 200 transactions (IRS Fact Sheet 2025-08)
• Both conditions must be met on the same platform in the same calendar year
• The $600 ARPA rule was delayed repeatedly and repealed retroactively in 2025
• Personal transfers (splitting rent, gifts) don't count — not reportable, not taxable
• 1099-K reports GROSS payments before fees, refunds, and chargebacks
• Self-employment income is reportable from the first dollar; SE tax starts at $400 net
• The #1 mistake: reporting the gross 1099-K number as income without deducting fees

OFFICIAL SOURCES:
IRS IR-2025-107 / Fact Sheet 2025-08 — 1099-K threshold reverts to $20,000:
https://www.irs.gov/newsroom/irs-issu...
IRS Form 1099-K FAQs:
https://www.irs.gov/newsroom/form-109...
IRS — Understanding your Form 1099-K:
https://www.irs.gov/businesses/unders...

This video is for educational purposes only and is not financial advice. Tax rules change — always verify current IRS guidance or consult a tax professional for your situation.

#1099K #Taxes2026 #SideHustle