Our payment processor, Stripe, will be issuing the 1099-K form by the end of January 2023, if you've met all of the following criteria in the previous calendar year:
US Hosts:
- Your Stripe account is based in the United States (owners do not need to be US citizens) or the non-US account is for a US taxpayer AND
- More than $20,000 USD in total gross volume AND
- More than 200 transactions.
The 1099-K is a purely informational form that summarizes the sales activity of your account and is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as some US states. For more help understanding your 1099-K, go to IRS.gov. You can also download a blank example of the 1099-K form here.
PLEASE NOTE: If you don't meet all the listed requirements, you won’t receive a formal 1099-K form.
As always, we encourage you to consult a tax professional for assistance reporting your income. You can learn more as well on IRS.gov.
Canadian Hosts
Hosts who earned over $600 CAD will need to provide a W8-BEN to our payment partner, Stripe. Forms W-8 are for non-U.S. tax residents.
You can learn more about the upcoming tax changes here:
https://fortune.com/2021/03/12/gig-workers-taxes-irs-covid-relief-bill/
Swimply does not provide tax advice. For more information, please consult a tax professional.
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