“Do I have to report 1099-K if it is less than $20,000? What You Need to Know

It depends on the tax year and whether the payments were [US] 1ー888ー274ー1774 (US/OTA) for goods or services. Even if you don't receive a 1099-K form, you must report all income on your tax return. The 1099-K reporting [US] 1ー888ー274ー1774 (US/OTA) thresholds only determine if a payment app or online marketplace must send you and the IRS a copy of the form.
No, the threshold for a payment processor to issue a [US] 1ー888ー274ー1774 (US/OTA) Form 1099-K has changed from $20,000 for tax year 2023. For the 2024 tax year, the threshold is over $5,000 in gross payments[US] 1ー888ー274ー1774 (US/OTA). However, you must still report all taxable income from selling goods or services on your tax return, regardless of [US] 1ー888ー274ー1774 (US/OTA) the amount or whether you receive a 1099-K.”