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R
ryan@stripeslawn
March 9, 2024
Question

QBO Merchant site saying "your 1099-K form is not available".

  • March 9, 2024
  • 1 reply
  • 0 views
I am currently filing my taxes for last year, and I am looking for my 1099-K from QuickBooks. I am a sole proprietor and do not have any employees. I was paid in Debit/credit transactions and upon some very hasty research, I figured out I would need to reference the 1099-K for the last year. However, once signing into the merchant site, it states "Your form 1099-k is not available". Is this a known issue? Am I wrong assuming I should have a 1099-K Form? Total $ Gross LY was $23,*** and many were >$600. Thanks for any info!

1 reply

F
FateCandylaneT
March 9, 2024

Thanks for letting us know, ryan. Let me provide information when filing taxes for payment processing accounts and acquiring 1099-K forms for your business.

 

The IRS requires payment settlement entities (PSEs) like Intuit QuickBooks Payments, to report payment card and third-party network transactions. Form 1099-K reports the gross amount of reportable payments made to payees during the calendar year.

 

For tax year 2023, the IRS requires a Form 1099-K when payments gross more than $20,000 and there are more than 200 transactions. If you meet the 1099-K reporting threshold, your Form 1099-K will be available for download from the Merchant Service Center by January 31, 2024.

 

However, if you've processed more than 200 transactions and fulfilled the conditions for submitting 1099-K forms, it's best to reach out to our Customer Care Team. They have the necessary tools to verify your account, review payment data entries, and identify why these forms are unavailable on your end. To do this:

 

  1. Sign in to your QuickBooks Online company.
  2. Go to Help(?) at the top right, then type Contact Us.
  3. Enter your concern, then hit Let's Talk.
  4. Choose to Start a chat with a support expert.

 

I'm also sharing this guide for more detailed insights: How Intuit generates Form 1099-K.

 

Moreover, you may utilize these references to learn more about tax compliance and other frequently asked questions:

 

 

I'll be available anytime in this thread if you have additional questions when filing payment taxes. Just keep us posted so we can further provide help. Keep safe!

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