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Big Beautiful Bill rolls back 1099K amounts to previous limits

carew4mecarew4me Posts: 3,667 ✭✭✭✭
in Precious Metals

https://www.bankrate.com/taxes/1099-k-tax-rules-what-you-need-to-know-if-you-get-paid-via-venmo-cash-app-or-paypal/

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Comments

  • derrybderryb Posts: 38,552 ✭✭✭✭✭

    Previous discussion on the US Coin Forum

    "A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."

  • taxmadtaxmad Posts: 1,184 ✭✭✭✭

    I do wish they would raise the 1099 limit. $1200 creates too many forms that yield too little tax.

  • derrybderryb Posts: 38,552 ✭✭✭✭✭
    edited August 7, 2025 8:03PM

    @taxmad said:
    I do wish they would raise the 1099 limit. $1200 creates too many forms that yield too little tax.

    which 1099 are you referring to? There are at least 11 of them.

    "A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."

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