Form 1099-K : Paper or Electronic Form, You Choose

[my-cottage-books-and-antiques]

Just an FYI:

IF you want to be sent a paper form 1099-K for your 2024 taxes (assuming you meet the criteria), you will need to take action. Otherwise, you will only receive an online version (which, of course, you an print out if you choose).  See the announcement from ebay here:

https://community.ebay.com/t5/Announcements/Forms-1099-K-to-be-delivered-electronically/ba-p/3473188...

[jg.mason]

I'm wondering what everyone will choose electronically or paper by mail.

I'll probably switch back to paper by mail. Don't really know why, it's not like it's a big deal to just print it out. Probably just showing my age I guess.😀

[chapeau-noir]

Electronic for me, since I file electronically.

[simba6]

No one can afford postage anymore.   On the bright side, junk mail has dried up a lot.

[valueaddedresource]

Great...this will make it even easier for fraudsters who use stolen identity info to set up shop on this site to go undetected. 🙄

For those who don't know, over the last couple years, every time eBay sends out 1099-K forms, we get posts from unsuspecting victims of identity theft who are completely unaware that someone has created an eBay account using their name, address, and (sometimes) social security number to fraudulently sell tens or even hundreds of thousands of dollars worth of merchandise.

https://community.ebay.com/t5/Selling/Received-a-1099-k-form-yesterday-from-ebay-I-haven-t-sold/m-p/... 

Previously, the bad guys often didn't think/know to turn off the option for a 1099-K to be mailed, so the victim would receive it in January or February - which would at least give them a couple months to try to notify eBay, law enforcement and the IRS of the identity theft and start working on cleaning up the mess before taxes are due.

If those fraudulent accounts will now be set to electronic delivery only by default....I predict we'll be hearing from more people who will only find out after the IRS has started an audit or sent letters demanding they owe additional tax plus penalties and interest on tens of thousands of dollars of income they didn't report. 🤦‍

[dbfolks166mt]

I'm wondering what everyone will choose electronically or paper by mail.

I'll probably switch back to paper by mail. Don't really know why, it's not like it's a big deal to just print it out. Probably just showing my age I guess.

     Paper by mail for me also. Why should I use my own paper and ink? 

[slippinjimmy]

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@dbfolks166mt wrote:

I'm wondering what everyone will choose electronically or paper by mail.

I'll probably switch back to paper by mail. Don't really know why, it's not like it's a big deal to just print it out. Probably just showing my age I guess.

     Paper by mail for me also. Why should I use my own paper and ink? 

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One reason would be that you will have a digital copy of the 1099-K that you can refer to at any time and easily find in April 2025, or 10 years from now. Of course you could always scan the paper form.

Seems odd to me to prefer a paper form simply because of the 2 cents it costs to print a hardcopy.

[chapeau-noir]

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@simba6 wrote:

No one can afford postage anymore.   On the bright side, junk mail has dried up a lot.

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"No one"?  How are we all in business, then? 😉

But yeah, less junk mail is good.

[dbfolks166mt]

@dbfolks166mt wrote:

I'm wondering what everyone will choose electronically or paper by mail.

I'll probably switch back to paper by mail. Don't really know why, it's not like it's a big deal to just print it out. Probably just showing my age I guess.

     Paper by mail for me also. Why should I use my own paper and ink? 

One reason would be that you will have a digital copy of the 1099-K that you can refer to at any time and easily find in April 2025, or 10 years from now. Of course you could always scan the paper form.

Seems odd to me to prefer a paper form simply because of the 2 cents it costs to print a hardcopy.

      Even if you get a paper copy the digital copy is still available on eBay. The paper one I put with the hardcopy of my tax forms and the digital one I download to the computer the same place I put all the other electronic tax forms. 

     Paper is backup. IRS doesn't buy your computer crashed as an excuse in the event of an audit. Sure I could print a hardcopy but that is eBay's job they are the ones that came up with managed payments so let them manage it. 

[rockyroadtradingpost]

For me, digital receipt means one less letter than can get lost,  misdelivered by the USPS, or stolen out of the mailbox.

[chapeau-noir]

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@rockyroadtradingpost wrote:

For me, digital receipt means one less letter than can get lost,  misdelivered by the USPS, or stolen out of the mailbox.

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That, too - only in my case it would be in the pit o' hell that is my office. 😖