Form 1099-K and tax reporting

If your total gross shipping sales on OfferUp exceeded the federal or state reporting threshold in the previous calendar year, you may receive a Form 1099-K. This form provides a summary of your transactions and can help you report your income for tax purposes.

FAQs

What is Form 1099-K?

Form 1099-K is an IRS informational form that summarizes gross payment transactions processed through online marketplaces or third-party services. It helps you report your income for tax purposes. For more details, see IRS.gov: Understanding your Form 1099-K

Who will get Form 1099-K?

You will receive a Form 1099-K if your total gross shipping sales exceeded $5,000 in the previous calendar year. Additionally, some states have lower reporting thresholds, so you may receive a Form 1099-K even if your total gross sales are less than $5,000.

Note

On November 26, 2024, the IRS lowered the minimum reporting threshold to $5,000 for tax year 2024. See the full IRS Announcement

How will I get Form 1099-K?

Your Form 1099-K should be mailed to you by January 31 via USPS First-Class Mail. If you haven’t received your form in the mail by the end of February, please open a chat_button.jpg Chat or select Contact Us to submit a help request. 

What address will Form 1099-K be mailed to?

Form 1099-K will be mailed to the most recent address you provided through the OfferUp taxpayer notification. We periodically send these notifications throughout the year to collect your Social Security Number and current address.

Can I have Form 1099-K emailed to me?

No. OfferUp does not currently provide Form 1099-K by email. It is only available by mail.

Will my cash sales be documented on Form 1099-K?

No. Only shipping sales processed through Stripe are included in Form 1099-K. In-person sales facilitated by OfferUp are not reported on Form 1099-K.

For guidance on reporting cash sales, please consult a qualified tax advisor.

What do I do with Form 1099-K?

Form 1099-K shows the gross amount and number of transactions from your OfferUp shipping sales for the year. Use this form, along with your other records, to determine your taxable income. To learn more, see IRS.gov: What to do with Form 1099-K.

Why doesn’t my gross amount match my actual earnings?

The gross amount on Form 1099-K includes all buyer payments made to you before any adjustments.

It does not reflect:

  • Refunds
  • Discounts
  • Fees
  • Shipping costs
  • Other deductions

Additionally, the gross amount is reported based on when funds were processed by Stripe, not necessarily when you received them.

I didn't meet the payment threshold. Why did I get a Form 1099-K?

Even if you didn’t reach $5,000 in gross sales, your state may have a lower reporting threshold. You will receive a Form 1099-K if you meet either the federal or state threshold. You are responsible for determining whether you need to file a Form 1099-K based on your local jurisdiction's tax requirements.

I lost my Form 1099-K. How do I get a new one?

To request a replacement Form 1099-K, please open a chat_button.jpg Chat or select Contact Us

For all tax-related questions, please consult a qualified tax adviser. OfferUp does not provide tax advice regarding Form 1099-K.

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