Questions & Answers

What are 1099-K, 1099-NEC, and 1099-MISC forms?

1099-K, 1099-NEC, and 1099-MISC are forms sent to you (and to the IRS) reporting income you earned as a freelancer.

1099-K forms are usually sent out from a payment-processing entity such as PayPal. These entities are required to send you a 1099-K if:

  • you earned over $20,000 or
  • you had over 200 transactions.
1099-NEC or 1099-MISC forms are sent out from people/companies who made payments to you. They're generally required to send you a 1099-NEC or 1099-MISC if they paid you at least $600.

Sometimes you may receive a combination of 1099-NEC, 1099-MISC, and 1099-K forms for the same income. Be careful and make sure you don't double report your income on your return.

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