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monica_monae
February 1, 2023
Question

Is form 1099-K and 1099-MISC the same thing or are they different ?

  • February 1, 2023
  • 1 reply
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Vanessa A
February 1, 2023

They are different. However, it is possible they could overlap contain some of the same income depending on your situation.  The 1099-K is sent to you by payment processors like eBay or Square.  The 1099-Misc is sent to you by someone who paid you for services.  If you are a contractor and did work as an installer for another company, that paid you through PayPal, PayPal would issue you a 1099-K and the other company would issue you a 1099-Misc.  However, this year, most places will issue a 1099-NEC instead of a 1099-Misc for that type of situation. 

 

 

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