# Form 1099-K

> Form 1099-K — The information return from a payment settlement entity reporting a payee's gross payment card and third-party network receipts — card transactions at any amount; third-party network transactions only above $20,000 and 200 transactions, the threshold the OBBBA retroactively reinstated. Gross of refunds, chargebacks and fees, so it never ties to revenue.

Source: https://lopifi.com/glossary/form-1099-k
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

---

**What is form 1099-k?** In accounting, form 1099-K means the information return from a payment settlement entity reporting a payee's gross payment card and third-party network receipts — card transactions at any amount; third-party network transactions only above $20,000 and 200 transactions, the threshold the OBBBA retroactively reinstated. Gross of refunds, chargebacks and fees, so it never ties to revenue.

## Words this system refuses for it

- 1099 unqualified
- sales report

- **Category:** Tax
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** revenue, payee