This article is for Stripe Direct or Standard Connect users.
For platforms working on 1099 tax forms for connected accounts, see Stripe Documentation.
For Express or Custom connected accounts, see Express Support Site.
The 1099-K form is a purely informational document that summarizes the sales activity of your account. It is designed to assist you in reporting your taxes. For more information on what is included on your 1099-K form, see Information included on a 1099-K form.
Every year, the United States’ IRS and certain states requires that Stripe provide a 1099-K for each Stripe account that meets all of the following criteria in the previous calendar year:
Stripe issues 1099-K forms to all eligible U.S.-based users who accept payments, regardless of their business type or activity. The 1099-K is provided to both the account holder and the IRS, as well as some U.S. states.
State filing requirements might differ from federal requirements. View the full list of state filing thresholds in this table.
Prior to calendar year 2024, the 1099-K threshold applied to accounts based in the U.S. and having $20,000 USD in total gross volume and 200 transactions.
If your business qualifies for a 1099-K, your 1099-K for the previous calendar year will be available to download from the Documents section of the Dashboard by January 31st. We notify account admins via email when the form is available.
If you didn't qualify for a 1099-K and would like to see your payment transaction history for the previous year, see How can I review all my payment transactions for the tax year?.
You can export your 1099-K forms from the Documents section of the Dashboard. You can download any available 1099-K PDF that we have prepared for you.
If you no longer have access to your Stripe account, Stripe will mail the 1099-K using the latest address information that you’ve provided.
If your 1099-K includes incorrect tax details, you can update these details from the Documents section of the Dashboard.
See 1099-K forms: Updates, Corrections and Splits.
If you need to split the volume of your generated 1099-K form between two separate legal entities, contact Stripe Support.
If you believe the amount in box 1a is incorrect, see the section below on understanding the total reported volume.
Total gross volume is the total of all charges you processed through Stripe for the year, including:
These additional fees, refunds, and adjustments are not deducted from your total charges when calculating your gross volume and reporting to the IRS.
Stripe must report total gross volume and cannot update amounts on 1099 tax forms.
Starting with tax year 2023, accounts with Administrator access can use the Stripe Dashboard to export the transaction log of each 1099 form. A transaction log lists the Stripe transactions that have contributed to a form’s total. This log allows you to audit transaction discrepancies and answer questions which transactions Stripe includes in their tax forms. For a detailed step by step guide, check out: 1099-K forms issued by Stripe - Reconciliation Report
For tax years 2022 and before, contact support to get the reconciliation report for your 1099-K form for a given tax year.
Stripe provides a 1099-K form for each unique tax identification number (TIN), such as a Social Security Number (SSN) or Employer Identification Number (EIN), that meets the IRS or state processing threshold. If you received a 1099-K and didn't expect to, it might be because:
If you received a 1099-K and still do not believe you should have, we recommend going over the steps outlined in the reconciliation section of this article.
If your accountant needs to calculate your potential deductions for Stripe fees, refunds, and adjustments, this can be accessed through your Dashboard:
To calculate any disputes lost during the fiscal year, see your payments disputes page.
1099-Ks from Stripe to Connect Custom and Express platforms will also include all transactions processed through their connected accounts. Per IRC §6050W, Stripe is obligated to send a 1099-K to our payee in the fund flow chain. This means 1099-Ks from Stripe to Connect Custom and Express platforms report the full volume to the US platform on the 1099-K.
A 1099-K is only informational. It is not a statement of revenue or income, and should not result in any additional tax being owed. The lower true earned income amount should be reflected on your personal or corporate income tax return. Income tax returns allow you to indicate adjustments, expenses, and other deductions, like amounts passed on to connected accounts that should reduce the initial gross receipts/income amount.
You can use the steps included in the article below to determine the amounts passed on to connected accounts.
If you are a Connect platform looking for information on how 1099s should be issued to managed accounts, see: U.S. tax reporting for Connect platforms.
If you suspect identity theft related to a 1099-K, follow the steps outlined in this support article.
Stripe's obligations are to issue 1099-K forms to all eligible US-based users who accept payments, independent of their business type or activity. Even for tax-exempt activities, which may potentially include the acceptance of donations, Stripe is obligated to issue a 1099-K form. The 1099-K is for informational purposes only. We recommend consulting a tax advisor to learn more about this form and how you should use it.
We recommend talking with your tax advisors when preparing your tax forms, but here are some links that you might find useful as a sole proprietor: