Form 1099-K Reporting Information for Tax Year 2011
NOTE: This headliner is current through the publication date. Since changes may have occurred, no guarantees are made concerning the technical accuracy after the publication date.
Headliner Volume 328
April 11, 2012
IRS announced that reporting Form 1099-K amounts separate from other business income is not required for their 2011 returns. Recipients of Forms 1099-K should follow the form instructions for reporting their gross receipts or sales.
Items that qualify as a trade or business expense should continue to be reported on the appropriate line item on Schedules C, E and F.
More information about Form 1099-K is available on the Third Party Information Center page of IRS.gov.
Rate the Small Business and Self-Employed Web Site
Page Last Reviewed or Updated: 2012-08-04
