At what amount level does a 1099 trigger ?

[janjb]

abcdefghik

[tobaccocardyahoo]

They were issued for $5k or more unless the seller's state requires a lower number.

The usual high tax states are among those who specify a lower number.

Few questions about taxes have a simple answer.

[nobody*s_perfect]

For calendar year 2024, the federal threshold was $5000.  But several states have set lower thresholds, mostly $600, so sellers at lower levels might get a 1099-K also.

For 2025, the federal threshold is $2500 and for 2026, $600. Here's the official IRS announcement:

https://www.irs.gov/newsroom/irs-provides-transition-relief-for-third-party-settlement-organizations...

[johnrj1226]

I received a 1990 - INT from my bank  yesterday for $1,20

But You are thinking about 1990 K

Here is some info

1.A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000. However, they can send you a Form 1099-K with lower amounts. Whether or not you receive a Form 1099-K, you must still report any income on your tax return.

2.  If you have a stated income tax  the threshold  does vary -  check  the threshold for your state via a simple Google search.  The threshold only means that the marketplace needs to send folks  a  1990K at that  thrshold.  IRS  says  one needs to report all income- what you do is up to you - don't believe the "street" or "water fountain" crowd chi-chat.  Remember eBay and others sites have your s/n number.  Just food for thought.

GL

[slippinjimmy]

For Alaska it is the same as the Federal threshold, $5000 for 2024 and $2500 for 2025 (2025 subject to change).

YOUR personal threshold to report income on your 1040 is $1.00