How do I receive my 1099-K form? (For Stripe Connected Accounts)

1099-K form distribution from Stripe

1099-K Stripe

1) 1099-K will be sent out from Stripe 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
  • If accounts do not meet this criteria, 1099-K forms are not needed

2) What is a 1099-K form:

This form is sent for the reporting of transactions that Stripe have processed on behalf of a MyStudio merchant (studio operator).

What is in the report? 

Payment transactions made in settlement of:

 Credit card, debit card, and other payment card transactions