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?
The only tax form that eligible sellers will receive is the 1099-K, and this is only for sellers who earn above the federal or state thresholds on Depop Payments (excluding Paypal sales) in 2023. Users who earn less will not receive a 1099-K form.
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 $600 or more, you will receive an email invitation by end of the year via email. The email will come from Stripe, and the subject will be "Action required to receive your Depop 2023 tax form." 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.
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?
Once you receive the invite, open the email from Stripe and click on the “Verify Information” button, which will prompt you to create a Stripe Express account. After you create an account, you can review your tax information.
How can I download my electronic 1099-K tax form?
Once you receive the email invitation from Stripe, open the invite email and click on the “Verify Information” button, which will prompt you to create a Stripe Express account.
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 likely be in late January.
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, please ensure your mailing address is up to date in Stripe Express and then contact Depop to submit your request. The option to request a paper tax form will be available from November to January.
How do I get in touch for more help?
Last Updated: 16/06/2023