Venmo 1099 thresholds are dropping, here's what to know

Name: Venmo 1099 thresholds are dropping, here's what to know
Duration: 67 s
Description: The reporting threshold drops from $20K to $600 by 2026, but you must still report all income regardless of whether you get a 1099.

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Venmo's 1099 reporting threshold dropped to $6,000 for 2024, heads to $2,500 in 2025, and bottoms out at $600 by 2026. TJ clears up a common misconception about what these thresholds actually mean for your tax obligations—and why thinking you're off the hook under the limit is a mistake.

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