Do I need a 1099-NEC and a 1099-K?

You might receive both, but you should not double-report income. The 1099-K reports gross payment volume processed by the platform, while 1099-NEC reports non-employee compensation. If the same income is on both, report the 1099-NEC amount and keep records to prove the 1099-K is duplicative if asked. Use our Online Earnings Calculator to reconcile these figures. Read more on Understanding 1099 Forms.