Starting 2023, Prestoexperts advisors will receive the 1099-K form, reporting payments for goods or services provided in Prestoexperts online marketplace.
The 1099-K form will be provided to advisors who meet the following threshold:
More than $20,000 in aggregate annual gross receipts in a calendar year AND
More than 200 payment transactions in a calendar year.
Advisors who received their payments through PayPal will need to contact PayPal directly to obtain their 1099-K form.
The 1099-K form is issued annually, by the end of January of the following year. It is sent by mail to the eligible advisors.
Any information provided by Prestoexperts in regards to the 1099-K form does not constitute tax advice. Be sure to consult with a tax professional for any questions.