I count and report my cash sales via other means. How do i stop square from reporting my cash sales. I dont mind them being counted for report however I report them to irs via other means and dont want them included in my end of year report of sales.
Hi there,
Tax law requires that Square provide account holders who process over $20,000 and over 200 credit card payments with a 1099-K before January 31st of the following year.
Cash and Other Tender payments are not included in the total we report on the 1099-K forms, so you should be good to go 🙂 .
Hi there,
Tax law requires that Square provide account holders who process over $20,000 and over 200 credit card payments with a 1099-K before January 31st of the following year.
Cash and Other Tender payments are not included in the total we report on the 1099-K forms, so you should be good to go 🙂 .
I called Square customer support and was told that all sales over 20,000 are reported on the 1099-K to the IRS whether it be cash or card.
Hello @kboyette!
I'm really sorry about this, but the advocate you spoke to provided incorrect information. Cash sales are not included in your 1099-K. We have an article titled 1099-K Tax Reporting Information that outlines this.
I'll follow up with the advocate you spoke to, so this doesn't happen again.
Square Community