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Will owners be sent tax forms from income such as a 1099?Tags:faqowner
It is not required to report Riders Share income on your taxes until you make $20,000 or more.
The US Internal Revenue Service (IRS) requires US companies that process payments, including Riders Share, to report gross earnings for all US users who earn over $20,000 and have 200+ transactions in the calendar year. If you exceed both IRS thresholds in a calendar year, Riders Share will issue you a Form 1099-K.
The threshold for 2023 may change to $600.