Understanding Your Form 1099-K
The IRS is choosing NOT to enforce the reporting thresholds to provide 1099-Ks for people receiving $600 or more.
Outdoorsy will provide 1099-K tax forms to people who receive $20,000 or more of reportable income and 200 transactions/payouts from our platform in 2022.
This follows guidelines by the IRS
Guidelines 2021 and 2022
Up to and including 2021, a 1099-K tax form was provided by Wheelbase to 'dealers' who had $20,000 in revenue and 200 transactions/payouts for the calendar year.
As of 2022, a 1099-K tax form will be provided by Wheelbase to 'dealers' who have $600 in revenue for the calendar year.