Form 1099-K

Payment Card & Third Party Network Transactions

IRC §6050WRev. Proc. 2024-28IRS Notice 2024-852025 Threshold: $5,000

Payer / TPSO Information

Third-Party Settlement Organization or Payment Card Organization — IRC §6050W(d)(2)–(3)

Payer Name *

Payer TIN / EIN

Payer Address

1099-K Box Data

Per Treas. Reg. §1.6050W-1 — All amounts from the form

Box 1a — Gross Amount of Payment Transactions *

IRC §6050W — total gross payments received. 2025 threshold: $5,000 (Rev. Proc. 2024-28)

$Below $5K

Box 1b — Card Not Present

Box 2 — MCC Code

Box 3 — # Transactions

Box 4 — Fed Withheld

Box 6 — State

Box 7 — State ID #

Box 8 — State Withheld

Income Routing — Where Does This Flow?

Determines which 1040 schedule receives this 1099-K income — IRC §61; §162; §451; §1001

Business / Activity Description

Adjustments to Gross Amount

Subtract personal reimbursements, returns, or non-income items — IRS FAQ 1099-K; IRC §61

Adjustment Amount

Net Taxable Amount

$0.00

Reason for Adjustment

Notes

Due Diligence — IRC §6695(g) / Form 8867

Preparer must verify all 1099-K income is correctly classified and routed. Cade 2 mock validation and EWS detection applied on save. Record retention required through 04/15/2029 per IRC §6107(b).

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2025 Reporting Threshold: $5,000 — Rev. Proc. 2024-28