Section 2: Tax Law Changes Impacting Small Businesses Question 3 of 5 . Rent payments that are processed through a third-party network after March 11, 2021, should be reported to the taxpay which form? The payer may elect to report the payment on either Form 1099-K, Payment Card and Third Party Network Transactions, 1099-MISC, Miscellaneous Income. Only Form 1099-K, Paymont Card and Third Party Network Transactions. Only Form 1099-NEC, Nonemployee Compensation. Only Form 1099-MiSC, Miscollaneous income