1099-K Reporting Details
As a Nourysh seller, it's your responsibility to report income earned through the platform. Each January, if you meet certain income thresholds, you’ll receive a 1099-K form from our payment processor, Stripe. Be sure to keep your contact information current by reviewing your Payout and Professional Details in Stripe.
Understanding Your 1099-K
- Gross Sales Reporting: The IRS requires Nourysh and similar platforms to report the total sales amount without adjustments for fees, discounts, or refunds.
- Income Breakdown: You’ll receive a separate sales report from Nourysh detailing your revenue, Stripe fees, and any Nourysh fees to help you with tax filing.
Federal and State Thresholds
For taxes before 2022:
- Threshold: $20,000 in gross sales and 200+ transactions or state-specific criteria.
For 2022 and beyond:
- Threshold: $600 in total payments, regardless of transaction count.
For guidance on tax reporting or specific deductions, consult a tax professional. For more details, visit the IRS 1099-K page.
*Nourysh is currently only available to artisans and sellers in the United States. Please keep an eye out for expansion into other countries in the future!