No, they are not the same.The Form 1099-K is a report of payments you got for goods or services during the year from:Credit, debit or stored value cards such as gift cards (payment cards)Payment apps or online marketplaces, also called third party settlement organizations or TPSOsThe Form 1099-NEC is used to report nonemployee compensation.

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waseemobeid

Question

Is 1099-K and 1099-NEC the same?

Forum|Forum|11 months ago
April 13, 2025
1 reply
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DoninGA

Employee

No, they are not the same.

The Form 1099-K is a report of payments you got for goods or services during the year from:

Credit, debit or stored value cards such as gift cards (payment cards)
Payment apps or online marketplaces, also called third party settlement organizations or TPSOs

The Form 1099-NEC is used to report nonemployee compensation.