Form 1099-K - Payment Card And Third Party Network Transactions - 2018 Page 5
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8Instructions for Payee
Box 1b. Shows the aggregate gross amount of all reportable payment
You have received this form because you have either: (a) accepted
transactions made to you through the PSE during the calendar year
payment cards for payments, or (b) received payments through a third
where the card was not present at the time of the transaction or the
party network that exceeded $20,000 in gross total reportable
card number was keyed into the terminal. Typically, this relates to
transactions and the aggregate number of those transactions
online sales, phone sales, or catalogue sales. If the box for third party
exceeded 200 for the calendar year. Merchant acquirers and third
network is checked, or if these are third party network transactions,
party settlement organizations, as payment settlement entities (PSE),
card not present transactions will not be reported.
must report the proceeds of payment card and third party network
transactions made to you on Form 1099-K under Internal Revenue
Box 2. Shows the merchant category code used for payment card/
Code section 6050W. The PSE may have contracted with an
third party network transactions (if available) reported on this form.
electronic payment facilitator (EPF) or other third party payer to make
Box 3. Shows the number of payment transactions (not including
payments to you.
refund transactions) processed through the payment card/third party
If you have questions about the amounts reported on this form,
network.
contact the FILER whose information is shown in the upper left corner
Box 4. Shows backup withholding. Generally, a payer must backup
on the front of this form. If you do not recognize the FILER shown in
withhold if you did not furnish your TIN or you did not furnish the
the upper left corner of the form, contact the PSE whose name and
correct TIN to the payer. See Form W-9, Request for Taxpayer
phone number are shown in the lower left corner of the form above
Identification Number and Certification, and Pub. 505. Include this
your account number.
amount on your income tax return as tax withheld.
See the separate instructions for your income tax return for using
Boxes 5a–5l. Shows the gross amount of payment card/third party
the information reported on this form.
network transactions made to you for each month of the calendar
Payee's taxpayer identification number (TIN). For your protection,
year.
this form may show only the last four digits of your TIN (social security
Boxes 6–8. Shows state and local income tax withheld from the
number (SSN), individual taxpayer identification number (ITIN),
payments.
adoption taxpayer identification number (ATIN), or employer
identification number (EIN)). However, the issuer has reported your
Future developments. For the latest information about developments
complete TIN to the IRS.
related to Form 1099-K and its instructions, such as legislation
Account number. May show an account number or other unique
enacted after they were published, go to
number the PSE assigned to distinguish your account.
Box 1a. Shows the aggregate gross amount of payment card/third
party network transactions made to you through the PSE during the
calendar year.
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Parent category: Financial