Generally, if you make a profit in at least three out of five years, the IRS presumes you’re engaging in a real business rather than pursuing a hobby. Generally, if you make a profit in at least three out of five years, the IRS presumes you’re engaging in a real business rather than pursuing a hobby. Forms 1099-K are issued by third-party payment networks including Venmo or PayPal to report payments over $600, but those transactions can include personal as well as business payments. Survivor only gets one Social Security checkDear Liz: My wife was 69 at the time of her passing. When I spoke with Social Security, I was told that I can not collect on my wife’s work history.
