thread Re: What if you do not make $20,000 a year in Archived Discussions (Read Only)

Do I get a 1099-K if I don't make $20,000 a year?

anniel — Thu, 02 Jan 2020 02:16:16 GMT

The title of this thread has been changed from: What if you do not make $20,000 a year

My business is very small and I do not processes $20,000 in sales a year. How do I give that information to square? They sent an email saying I needed to do something with tax information but I don't know what or where.

Re: What if you do not make $20,000 a year

VanKalkerFarms — Tue, 31 Dec 2019 02:27:09 GMT

If you processed $20,000 AND had 200 transactions this year Square will send you a 1099-k IRS form. If you don't meet those criteria (set forth by the government) then you can go to your Square dashboard to get your yearly sales information.

https://squareup.com/dashboard/sales/reports/sales-summary

https://squareup.com/help/us/en/article/5048-square-tax-reporting-and-form-1099-k-overview

Re: What if you do not make $20,000 a year

Valentina — Thu, 02 Jan 2020 02:14:06 GMT

@VanKalkerFarms is absolutely right, @anniel!

The only exceptions here are if your tax reporting information is associated with Massachusetts or Vermont. In those states, we are required to issue a Form 1099-K and report to your state when you process $600 or more in card payments.

If you need additional help, please reach out directly so we can give you a hand!