Schedule C?

dasmith94 · ‎02-27-2020

I know I don't need to file a Schedule-K nor will Square send me one, but what about a Schedule-C? Does Square report my $2K net transactions to the IRS?

Thanks!

MichiganFarmsta · ‎02-27-2020

See the post about the 1099-K. They dont report under 20K or less than 200 transactions. However, if you have business income it is up to you to report it. You will likely need to fill out a schedule C when you file

dasmith94 · ‎02-27-2020

Ah cool. I didn't realize the schedule-K rules applied to the schedule-C.

Definitely need to report it regardless, just wanted to see if they reported it.