Zelle reportable?
If I send money through Zelle in 2022 will the recipient need to claim it on their taxes?
Terry Says
Zelle says because it is a bank payments system, not an “account holding money” they do not have to send out 1099K forms reporting payments.
If the money is a gift to the recipient, then there is no tax involved in any case.
And if the money sent is in exchange for goods or services, it is up to the recipient to report it — not you.
