Anybody have any info on Venmo and 1099's?
thedutymon11
Posts: 668 ✭✭✭✭
Afternoon,
I am setting up at a Comic Show this weekend and a Card show weekend after T-Day. The Comic Show will be my biggest of the year and the main guest signer is Kevin Eastman TMNT (Big Big Deal). And his signing table is right across from mine! I expect at the Comic Show to do several thousand in Sales mostly threw Venmo although I offer %5 off for cash. I have noticed the last year or so, lots of transactions at shows are completed via Venmo. I've used it a couple times this year for a about $700.
Does anybody know if we are going to get a 1099 from Venmo. My son, who's info is only hearsay, says 1099's Only apply to Venmo Business accounts. Is this true? And even if they 1099, there is still the 5K limit for 2024?
Comic Show is in Scottsdale/Phoenix, Sun Early Bird entry 9AM, Regular 10-4.
Thanks
YeeHaw!
Neil
Comments
https://help.venmo.com/hc/en-us/articles/4410097047315-What-to-Expect-for-Tax-Season
Which tax forms can I expect to receive from Venmo?
Venmo will issue a Form 1099-K to business profile owners and individuals who have passed reporting thresholds for payments received for goods and services.