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Is the marketplace required to issue the 1099-MISC if the threshold for the 1099-K is not met if all payments are done via credit card? I'm guessing the answer
by cyan 14y ago
Is the marketplace required to issue the 1099-MISC if the threshold for the 1099-K is not met if all payments are done via credit card? I'm guessing the answer is "no" but the blog post isn't quite clear on that.
- jareau 14y agoNo. Using Balanced, the marketplace isn't responsible for submitting any 1099 forms; Balanced is. So if the merchant hasn't hit the $20K/200 trnxs threshold they simply won't receive a 1099 from either the marketplace or Balanced.