Form 1099-K is an information report required by the Internal Revenue Service (IRS) and was sent you because our records reflect that you processed a volume that necessitated the production of the document for the calendar year.
The Form 1099-K should be used when you report your rental income on your Income Tax return. We advise keeping detailed records of refunds, credits, discounts and non-taxable amount’s as you will need to reconcile your net deposit to the gross amount shown on the 1099-K.