Form 1099-K is an IRS tax form that Amazon issues to report your total gross sales for the year. For the 2024 tax year, you’ll receive a 1099-K if your sales exceeded $5,000. This threshold will decrease to $2,500 in 2025 and $600 in 2026, as thresholds continue to be lowered.

The form reports your gross sales to the IRS, helping ensure accurate income reporting. It’s important to note that this is a reporting document – you still need to calculate your actual taxable income by deducting your business expenses from these gross sales figures.