If you get paid electronically for a side hustle, 
small business or the sale of items online,   You might need to pay taxes on that income. 
Payment apps and online marketplaces issue   A Form 1099-K, informing you and the IRS 
if you’re paid more than $600 in a year. If you make a profit through these 
activities, it’s considered taxable   Income. You can use the Form 1099-K, along with 
other records, to determine how much tax you owe. This should not apply if you get 
money from someone as a gift,   Reimbursement or repayment of other personal 
expenses. That money is not taxable. When   Possible, note these transactions 
as personal on apps and websites. Remember that all income, no matter the amount,   Is taxable unless the tax law says otherwise 
– even if you don’t get a Form 1099-K. Good recordkeeping throughout the year will help 
you when it comes time to file your tax return. For more information – including what 
to do if you get a Form 1099-K in error   Or the information on your form is 
incorrect — visit irs.gov/1099K.