balloonshark
Diamond Member
- Jun 5, 2008
- 6,573
- 3,054
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They send you a 1099-NEC. Mine was for $635 since I went over their $600 threshold.No, it isn't. Not even close.
I'm in a program with Amazon that sends out items to be reviewed. They assign a fair market value to each item and if you receive more than $600 worth in a single year, you get a 1099. It's simply a standard IRS requirement for any non-employment related income over $600
The 1099 was established in 1917.
Form 1099 - Wikipedia
en.wikipedia.org
Joe was born in 1942. OP is blaming him for something that was created 25 years before he was born.
I have a small amount of bitcoin and misc. coins on coinbase. They didn't have to send a form since I have way less than $600.