Azibo will provide a 1099-K for each entity that collects payments on the Azibo platform.
What is the 1099-K Form?
In the United States’ IRS requires that Stripe provide a form called a 1099-K for each Stripe account that is based in the United States, that meets the following criteria:
2023 Tax Year: $20,000 USD collected & more than 200 transactions
2024 Tax Year: $5,000 total gross volume
Filing requirements for some states might differ from federal requirements. View the full list of state filing thresholds in this table.
The 1099-K is a purely informational form that summarizes the sales activity of your account and is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as some US states.
For more help understanding your 1099-K, go to IRS.gov.
You can also download a blank example of the 1099-K form here.
For more information on Stripe provided 1099-K, check here.
PLEASE NOTE: It is not allowed to collect rent for individuals or tax entities unrelated to you. 1099-K forms must be filed in the name of the account owner and cannot be transferred to another person.