Receiving your 1099-K from Stripe: FAQs

UPDATE - 24th November 2023

Great news! The IRS has announced another delay to the threshold changes for 2023. You will now only receive a tax from from Depop if your gross sales total $20,000 or more, and you make at least 200 sales.

If you received notification from us and from Stripe regarding your Stripe Express account, you can still access this and review/update your tax details.

Note that you may still receive a tax form if your state threshold is lower than the federal threshold of $20,000 - please contact a tax professional for more information.

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This article will provide an overview on what to expect when receiving your 1099k form from Stripe, the company that powers Depop Payments. We'll run through how to update your taxpayer information and what happens after your 1099k form is sent. 

If you're looking for more generic information about US tax forms, click here.

 

What tax forms will be sent?

Eligible sellers who earn more than the federal and state tax thresholds on Depop Payments (excluding PayPal sales) in 2023 will be sent a 1099-K form. Users who earn less will not receive a 1099-K form. If you’re a Depop seller and you earned more than $20,000 in gross sales in 2023 and made over 200 sales, you will be eligible to receive a tax form via Stripe.

 

Note: a seller who has multiple Stripe accounts (not necessarily with Depop) may receive a Depop 1099-K if their total earnings across all platforms exceeds the threshold.

 

What about state level taxes?

If you exceed the threshold set by your state tax authorities, you will receive a 1099-K. Please contact a tax professional to understand more about your federal and state tax guidelines.

 

How will I receive my tax form?

If you have earned above the threshold, you will receive an email invitation by the end of the year via email. The email will come from Stripe, and the subject will be "Get your Depop 2023 tax forms faster by enabling e-delivery" The email will contain a link to set up a Stripe Express account.

 

If you signed up for a Stripe Express form in 2022, your login details will remain the same and you won’t need to take any action.

 

Why haven’t I received an email from Stripe?

If you earned enough to need a 1099 form in 2023, you should have received an email from Stripe by mid January 2024. Emails will be sent out in phases to sellers  starting in October 2023. 

If you can’t find an email from Stripe, it’s possible that: 

  • The email may be in your spam/junk mail folder. Please search your inbox for an email titled “Get your Depop.com 2023 tax forms faster by enabling e-delivery”. 
  • Depop does not have your most current email address on file. Please check any other email addresses you may have used to sign up for Depop, or reach out to Depop to update your email. 
  • The email address associated with your Depop account is incorrect, missing, or unable to receive mail. 

You can request the email to be resent to you via this link, but please note it will only work for the email that is on file with Depop.

 

When answering the account claim security questions, it states that my answers are incorrect, what should I do? 

Please reach out to Depop support to confirm the information that we have on file against the information you are providing.

If you’ve lost or updated your phone number, you can select the “I no longer have access to this phone number” option to authenticate via email and change your phone number. 

 

How do I login to my Stripe Express account?

Please note that in order to log into your Stripe Express account, you would have had to accept the Stripe Express invitation that will be sent to you via email. If you are having issues logging in after creating an account, please click here.

 

How do I update my tax information?

Open the email from Stripe and click on the “Get started” button, which will prompt you to create a Stripe Express account. After you create an account, you’ll be able to review your tax information (e.g., name, address, and SSN or EIN) and make any necessary changes via Stripe Express. Please update your information no later than 31st December 2023. 

 

How can I download my electronic 1099-K tax form?

Depop will automatically opt you in to e-delivery, and you’ll be able to access your tax form once available via the Stripe Express platform. Stripe will email you once your form is available for download, which will be in late January.

Please note that if you do not exceed the threshold of $20,000 and 200 sales, then you will not receive a tax form even if you have a Stripe Express account.

 

How can I request a paper version of my 1099-K tax form?

If you’d like to request a paper form be mailed to your address, you can select this option within the Stripe Express platform. Go to Tax Form Delivery Method within your account settings, and toggle ‘Postal mail delivery’ to ON. You must do this by December 31st to guarantee a paper form.

 

How do I get a corrected 1099 tax form? 

If you feel you need corrections made to a 1099 tax form that has already been ‘Filed’, use the edit option in the Tax Forms page of Stripe Express. Information you edit will not appear in the 1099 tax form in the Stripe Express dashboard but it is shared with Depop. You must reach out to Depop after you’ve made the edits you want and we can assist you with a correction. Once Depop files your correction, you will be notified via email and you will see a new 1099 tax form appear in the Stripe Express dashboard. 

Please note that it can take up to 72 hours after the platform files the correction for you to be notified.

 

Why don’t the earnings on my 1099 tax form match what I see on the Transactions page of Stripe Express? 

For questions about differences in your earnings please contact Depop support.

 

How do I get in touch for more help?

We recommend looking through our other 1099k resource page for more information, as well as Stripe’s Help Centre article. If you still need help, please contact Depop Support.

 

Last Updated: 24th November 2023

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