You hit $5,000 or more in rent payments through Split Pay this year. The IRS requires payment processors like Evolve to send a 1099-K to anyone who crosses that threshold and report the same to them.
This is the same for every payment platform — once you're past $5,000, the form goes out automatically.
Keep it for your tax records and pass it along to your accountant or tax preparer when you file. The number on the 1099-K is your gross rent income through Split Pay; your tax preparer handles deductions and net income from there.
If anything on the form looks wrong (your name, tax ID, or address), see the FAQ on My tax information on the 1099-K is wrong. How do I fix it?.
We can't give tax advice — for filing questions, talk to a tax pro.