What should I do if a payment for Form 1099-K is more than 12 digits?
204 views | Last modified 10/17/2023 7:19:02 AM EST | Added by TaxBandits Team

When you E-file Form 1099-K, and if payment amounts exceed 12 digits (e.g., 12,000,000,000.00), you can enter the remaining amount in a separate Form 1099-K for the same recipient. Make sure the payments in both forms are not the same to avoid duplicate discrepancies.

Note: This provision is applicable only for E-filing.