My wife received a 1099-NEC from a business that she did contract work for as well as a 1099-K that included those payments among others. Skip the 1099-NEC?

Forum|Forum|1 year ago
February 4, 2025
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The platform she receives digital payments through sent the 1099-K. The business that sent the 1099-NEC made payments through that platform.

MinhT1

If your clients pay you through PayPal or Venmo or a third party network or by credit or debit card, they do not have, and should not issue you a form NEC.

You'll receive a form 1099-K from PayPal or Venmo or the credit or debit card issuer.

Please see this QuickbooksHelp article.

If you receive both form 1099-NEC and form 1099-K for the same income, enter form 1099-NEC on your tax return. And keep form 1099-K in your tax records in case of inquiry by the IRS. As long as you have reported all your income, you are fine.

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