Confused about your 1099-R and 1099? Learn the key differences between these tax forms and how they impact your taxes.

Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced Form 1099-NEC as the new way to ... [+] report self-employment income instead of Form 1099-MISC as traditionally had been used.

But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.

The 1099-K change means these casual online sellers, gig workers, freelancers and small business owners whose online transactions met the new reporting threshold for the first time in 2024 could ...

To report the payment, if you are in business and the payments during the year reach $600, you’ll need to issue them an IRS Form 1099. Whatever the type or amount of crypto you use, the IRS will ...