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blingblingbrick
07-19-2016
12:06 PM
If I make over 20K, noticed I'll have to get 1099 from IRS. Does that include cash payment?!
If I make over 20K, noticed I'll have to get 1099 from IRS. Does that include cash payment?!
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5 REPLIES 5
Nope! The 20K and 200 transaction minimums are applied only to credit card payments. If you're eligible for a 1099-K (your account has processed over $20,000 *and* over 200 credit card payments), your form will be available by January 31st. If you qualify to receive a 1099-K, you can download it from your Square Dashboard.
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Can you confirm this. The documentaion I have been able to find is not clear. Thank you!
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Hi Jack,
If you are a contract laborer, you should receive a 1099 if you earned more than $600. If you are an employee, you should receive a W-2 not a 1099.
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@Jack1 Check out Kelly's answer above!
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