The platform you work with is required to file and provide you with a 1099 tax form, if you meet the following thresholds for the calendar year.
The federal thresholds for receiving a 1099 tax form differ per form type:
1099-MISC/NEC: >= $600 USD
1099-K: $5,000 USD
While most states follow federal thresholds, some have different filing requirements. Make sure to check with your platform about your state’s reporting thresholds.
Payees having $5,000 USD in total gross volume in the previous calendar year —and are based in the US or are a US taxpayer— should expect to receive a 1099-K, either through paperless delivery or paper mailing.
**Note - prior to calendar year 2024, the 1099K threshold was $20,000 USD in total gross volume and 200 transactions.
This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor with any questions or concerns around tax reporting.