THE $600 threshold has been in place for YEARS-—
Form 1099.
I was self employed doing bookkeeping from 1980 to 2024-—and I filled out a large number of 1099’s. EVERY landlord got one. I GOT one from each client.
For those people yes...I had a private business...and got and gave out 1099 during my 45 years in business. 1099-K includes a bigger base and not necessarily connected to a business.