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.
Update: On December 23rd 2022, the IRS announced a delay in the $600 threshold. In accordance with this update, Depop will issue 1099-Ks only to users who have sold more than $20,000 and with at least 200 sales.
We still highly encourage anyone who receives an email invitation from Stripe to claim their Stripe Express account and review their taxpayer information.
If you earned $600 or more in 2022 on the Depop platform, you’ll receive a 1099-K form via our partner Stripe.
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 $600 or more on Depop Payments (excluding Paypal sales) in 2022. Users who earn less will not receive a 1099-K form.
How will I receive my tax form?
If you have earned $600 or more, you will receive an email invitation by end of 2022 via email/letter. The email will come from Stripe, and the subject will be "Action required to receive your Depop 2022 tax form." The email will contain a link to set up a Stripe Express account.
If you do not receive the email invitation but earned or expect to have sold $600 or more in 2022 on Depop, click here.
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?
Sellers will start receiving email invitations from Stripe starting from October 31, 2022 until the end of the year. You will receive the email depending when you reach the $600 threshold.
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.
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.
Check your spam and deleted folders. The subject of the email is "Action required to receive your Depop 2022 tax form."
- Wait until early January 2023. Email invitations will be sent out in waves to sellers starting on October 31, 2022
- Confirm whether you earned $600 or more on Depop in 2022. If you earned less than that, you will not receive a 1099 form nor the Stripe invitation. This can be done by going to:
- Log into the web version of Depop
- Hit Sell (top right) > Stats
- Download your stats for 2022.
How do I get in touch for more help?