The IRS requires Kickstarter to file a 1099-K tax form for each successful project that meets the following requirements:
- The project creator’s verified entity (company or individual) and bank account are based in the United States, and
- The project collected more than $600 USD in total gross volume.
The 1099-K is a tax form that includes all reportable payment transactions associated with your project and it is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as to some US states, depending on their requirements.
States with lower threshold requirements:
Alabama, Connecticut, District of Columbia, Florida, Georgia, Kansas, Maryland, Massachusetts, Mississippi, New York, North Carolina, Oregon, Tennessee, and Vermont require 1099-Ks to be filed for each unique tax identification number with at least $600 USD in gross volume.
Missouri requires 1099-Ks to be filed for each unique tax identification number with at least $1,200 USD in gross volume.
Illinois requires 1099-Ks to be filed for each unique tax identification number with at least $1,000 USD in gross volume and more than three charges.
If you received a 1099-K form, or multiple forms, and are not sure why:
Kickstarter files a 1099-K for each unique tax identification number (TIN), such as a Social Security Number (SSN) or Employer Identification Number (EIN), that meets the IRS processing threshold. If you received a 1099-K and didn't expect to, it might be because:
- You have two or more successful projects verified with the same TIN; one meets the IRS threshold and one does not. Each will receive a 1099-K.
- You have two or more successful projects verified with the same TIN; neither are over the IRS threshold individually but, when combined, the threshold is met. Each will receive a 1099-K.
How will the tax year be determined?
Calculations for 1099-Ks are based on when a successful project’s backings are transacted (i.e. at the project deadline date), and are not based on the project payout date. The payout date occurs 14 days after the project deadline date.
This is especially important to keep in mind if your project deadline date occurs at the end of the year, with your project payout date occurring early the following year. In these cases, please note that your 1099-K will report earnings based on the year of your project deadline date, and not on the year of the payout date.
How will my 1099-K form be delivered?
Kickstarter will deliver forms electronically, or by mail, if requested. In January you will receive an email from our payment processor, Stripe, Inc., requesting consent to e-deliver your 1099-K tax form. This message will be sent to the email address associated with your Kickstarter user account, unless a different email address was provided during project verification.
If you consent to e-delivery, you will be taken to a secure portal where you can view and download your 1099-K. If you do not consent to e-delivery, a hard copy of your 1099-K will be sent in the mail. This will be mailed to the address provided during project verification.
You may be contacted by Stripe, Inc. prior to tax season with a request to confirm the tax information we have on file. If you do need to make any updates or corrections, you can do so safely and securely by following the prompts within the email.
When will I receive my 1099-K form?
You should receive your 1099-K form by January 31st if, in the prior calendar year, you ran a successful US project that met all IRS requirements.
If you are expecting a 1099-K and have not received it by January 31st, please reach out to our Support team with the subject, “Question About My 1099-K.”
How do I request a correction to my 1099-K form?
If you have a question about the gross amount calculation shown on your form, or if you would like to provide an updated physical address, please reach out to our Support team with the subject, “Question About My 1099-K.”
Please note that Kickstarter cannot make changes to a project creator’s verified entity (company or individual) retroactively. The PAYEE’S name on your 1099-K must match the taxable entity provided during project verification.
This guide is not intended to and does not constitute legal or tax advice. If you have questions regarding your tax obligations, please contact an accountant or tax advisor.