Off-Topic Forum

Does anyone know what is included on the COMC 1099-K?  Does it just include the amount withdrawn/cashed-out or your total sales and #of transactions on the site?  Thanks!

Did you get one???    No one that I know or other sites have said anything about get a 1099-K from COMC.

I would think it would be only the cash out.

I have not got one yet because I have not cashed-out.   It seems you only get one when you cash-out.

The 1099-K is a new IRS requirement so I don't think anyone is quite sure what will be included. I see sales definitely being included regardless if you cash out. The IRS generally looks at when the money was generated, not physically received in your hands/bank. Deposited into your COMC account means you have possession. Then again, what do I know, not an IRS agent...or am I????

Why don't you contact them and ask?

I believe there's a monetary threshold that must be reached before a 1099 is required. We only submit them for any contractor who gets paid more than $600 in a year. Not sure how it applies for this situation. 

$600 is the threshold. IRS mandated they be issued for Venmo, PayPal and other like transactions once over said threshold. Incumbent on the seller to prove taxability of the funds.