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Pro Taxes

Every year, we are required by the United States Internal Revenue Service (IRS) to provide a form called a 1099-K for each Pro account that meets all of the following criteria in the previous calendar year:

  • More than USD$20,000 in total gross volume.
  • More than 200 transactions.

Massachusetts, Maryland, Mississippi, Virginia, and Vermont require 1099-Ks to be filed for each unique tax identification number with at least USD$600 in gross volume.

Missouri requires 1099-Ks to be filed for each unique tax identification number with at least USD$1,200 in gross volume.

Illinois requires 1099-Ks to be filed for each unique tax identification number with at least USD$1,000 in gross volume and more than three transactions.

For Pros who meet the criteria, we will provide a 1099-K form.

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