1099 MISC statements for IRS

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Re: Re: Re: 1099 MISC statements for IRS (by Gerald C.):

You should if your rental income in total for the year from Redweek exceeds $5000. This is directly from the IRS website. Lookup 1099K..

"The IRS will not assert penalties under section 6721 or section 6722 for a TPSO for failing to file or failing to furnish Forms 1099-K with respect to a payee unless the gross amount of aggregate payments to be reported exceeds $5,000, regardless of the number of such transactions.'