US tax reporting for Connect platforms
Learn how to report the annual payments for your US-based connected accounts.
Stripe Connect allows platforms to provide a seamless, end-to-end payment service for their connected accounts. This service might come with certain responsibilities, including tax information reporting.
Getting your 1099 Forms
If you work for a platform that pays you through 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 connected accounts where Stripe controls the pricing or for transactions where the connected account pays fees directly to Stripe. For all other transactions where the platform controls the pricing, the platform is responsible for filing any relevant 1099 forms.
In other words, Stripe issues 1099-K forms for your connected accounts that have transactions where controller.fees.payer equals account or where controller.fees.payer equals application_unified_accounts_beta and the connected account pays the processing fees.
Stripe doesn’t issue a 1099-K to your connected account in the following scenarios:
- Where controller.fees.payer equals application or application _ express or application _ custom
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
- $2,000 or more in payments
1099-the related setting
Use the 1099-the related setting 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
- $2,000 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
See also
Note
Looking for help calculating sales tax, VAT, or GST? Check out Stripe Tax.