US 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 tax information reporting.
Getting your 1099 Forms
If you work for a platform that pays you via Stripe and want to learn about your 1099 forms and how to get them, see 1099 tax forms on the Stripe Support site.
Stripe issues 1099-K forms for your connected accounts that meet specific criteria. This includes accounts that have transactions where controller.fees.payer
= account
.
For transactions where controller.fees.payer
= application
or application_unified_accounts_beta
, if the fees for those transactions are paid to Stripe, they could be included in a Stripe-issued 1099.
For any other account setups that have transactions, Stripe won’t be issuing a 1099-K. Instead, consider issuing a Form 1099 to report income and payment transactions. There are several types of 1099 forms, and the applicable form depends on the type of payments you make to your connected account.
Note
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 US or a US taxpayer
- $600 or more 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 US or a US taxpayer
- $600 or more in payments or $10 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 US or a US taxpayer
- More than $20,000 in gross volume
- More than 200 transactions
Note
Looking for help calculating sales tax, VAT, or GST? Check out Stripe Tax.