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Will owners be sent tax forms from income such as a 1099?

Tags:faqowner

Federally, it was not required to report Riders Share income on your taxes until you make $20,000 or more for 2023.

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.

New Jersey, Vermont and Virginia have lower thresholds and we will send a 1099 form accordingly.

The federal threshold for 2024 may change to $600.