TheraNest users who use TheraNest to process credit card payments may qualify for a 1099 form. 

How Do I Qualify to Receive a 1099K? 

You will receive a 1099 from Vantage if your merchant account or Tax ID exceeds $20,000 AND 200 transactions. If the threshold is not exceeded, they won’t be issuing a 1099K. (unless the IRS changes the threshold in the future). 

For more information: new-payment- card-reporting- requirements.

Vantage will be mailing the 1099K on or prior to Jan 31, 2020

What if I Don't Qualify for a 1099K Based on IRS Rules? 

You can use your credit card charges report to see the total number of transactions and total transaction $ volume for the tax year. You can export that report to share with your accountant. 

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