U.S. tax reporting for Connect platforms
Stripe Connect allows platforms to provide a seamless, end-to-end payment service for their connected accounts. This service may come with certain responsibilities, including information reporting.
Stripe issues 1099-K forms for your Standard accounts that meet specific criteria. For your Express or Custom connected accounts, consider issuing a Form 1099 to report income and payment transactions. There are several types of 1099 forms.
Stripe recommends that you consult a tax advisor to determine your tax filing and reporting requirements.
1099-NEC
Use the 1099-NEC form to report non-employee compensation.
The account must meet all of the following criteria in the previous calendar year:
- Based in the U.S. or a U.S. taxpayer
- More than 600 USD in payments
1099-MISC
Use the 1099-MISC form to report other forms of payments made in the course of your business.
The account must meet all of the following criteria in the previous calendar year:
- Based in the U.S. or a U.S. taxpayer
- More than 600 USD in payments or 10 USD in royalties
1099-K
Use the 1099-K form to report payment transactions.
The account must meet all of the following criteria in the previous calendar year:
- Based in the U.S. or a U.S. taxpayer
- More than 20,000 USD in gross volume
- More than 200 transactions
Looking for help calculating sales tax, VAT, or GST? Check out Stripe Tax.