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Form 1099-K for Maryland: What You Should Know

All Other New York City Residents May Uses this 1099-K In New York City, you may request a free 1099-K with one of the following exceptions: If you have no income, you may be able to file it under the “Non-Exempt” exception. The filing threshold is determined by the number of payments received in a calendar year (5,000 or more). If you have an adjusted gross income of 200 000 or more in your last year before filing a Form 1099-K, you may use one of the following exemptions instead of the free 1099-K: The “Other Payee” exemption if you were a member of a corporation, LLC, limited liability company or partnership at any date in the last 365 days The “Exempt Business Income Exemption” if you were paid a salary (other than a salaried employee) in a business within the last 365 days and the total salaries received during the year did not exceed 50 000 To see what exemptions would be available to file your Form 1099-K in NYC, you can download and review form 10009 on the form filing instructions page from the IRS website. In other words, if you have to file one of the above exceptions for any reason, use the other exemption. If you receive a Form 1099-K with one of these exceptions, you do not have to file it as your first Form 1099-K. Your filing will count toward the filing requirement for the next year's Form 1099-K. The next three sections show how to figure the total taxes due for New York City residents: New York City taxpayers who did not receive a Form 1099-K for taxable sales in 2017, you will be given a special instructions package that goes into more detail about your exemption from the New York City state income tax. New York City taxpayers who want to make a claim for a New York City non-exempt business income tax deduction must complete and send in Form 10006. New York City residents who were self-employed in 2017, you can use the IRS E-file program to request a free 1099-K from the IRS.

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