Will I get a 1099-K or 1099-NEC?
Check which 1099 form to expect for 2027 from a client, a payment app or a marketplace, under the federal thresholds.
Excel and Google Sheets template
1099-K / 1099-NEC Income Reconciler 2027
Reconcile every form with what you were paid.
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The 2027 federal thresholds
- 1099-NEC: a client that pays you $2,000 or more in the year for your services.
- 1099-K: a payment app or marketplace that pays you over $20,000 and over 200 transactions in the year. Some states use lower thresholds.
Either way, the form shows the gross amount, before fees and refunds. Income without a form is still taxable.
Do I have to report income if I don't get a 1099?
Yes. All business income goes on Schedule C, with or without a form.
Why is my 1099-K higher than what I made?
It shows gross payments, before platform fees, shipping labels and refunds. You report the gross and deduct those costs separately.
What if a 1099 is wrong?
Ask the payer for a corrected form. Keep your records showing the right amount in case the IRS asks.
Organizer, not tax advice. Federal estimate only. Examples use made-up numbers.