The short answer

What it reportsPayment card transactions.
Amounts to reportNo threshold at all for payment card transactions. Over $20,000 in more than 200 transactions for payment apps and marketplaces (third party settlement organizations)
To the recipientJanuary 31
To the IRS, on paperFebruary 28
To the IRS, electronicallyMarch 31
Two IRS pages, two numbersThe Guide to Information Returns is still the 2025 edition and prints “All amounts”. The figure above is the 2026 rule from this form’s own instructions, which are the later source. If you are filing for 2025, the Guide is the one that applies to you.

If one arrives

Box 1a is not adjusted for fees, refunds, shipping or discounts. Report the gross and deduct those as expenses — netting them first leaves a difference you cannot explain.

The form is how a payer tells the IRS what it paid. Its absence is not permission — income you received is reportable whether or not a form covers it, and a threshold decides only who must file, never what you owe.

If you have to send one

You do not file this. The payment settlement entity does, which is why a card payment must not also go on a 1099-NEC.

Electronic filing is required once you file 10 information returns, counting every type together — eight 1099-NECs and four 1099-MISCs is twelve, not eight.

This page is for educational purposes only and does not constitute tax, legal, or financial advice. It covers United States federal reporting. Consult a qualified tax professional about your situation.

Official sources