1099-K form FAQ
What is a 1099-K form?
A 1099-K form is an informational return form that summarizes the activity of your account and helps you report your taxes. It is provided to you, the IRS, and some US states if your total gross payments are greater than $600 in 2023.
For more information, visit IRS.gov.
Why do I need to verify my information?
Your Social Security Number, Taxpayer Identification Number, or Employer Identification Number are required fields on the 1099-K form and must be verified before we send you and the IRS your 1099-K. Your name and mailing address also need to be verified to ensure the accuracy of your 1099-K tax form and its delivery to the correct destination. If you don't have valid taxpayer details on file with Zillow, you will not be permitted to use the Zillow Rent Payments platform.
When and where can I expect my 1099 tax form?
Form 1099-K will be finalized by January 31, 2024. If you meet the reporting thresholds (if rent payments made to you in 2023 were over $600), Stripe will send you a link to download a copy of your 1099 tax form. Alternatively, we can mail a paper form if you prefer.
What is considered a “reportable payment”?
Reportable payments include transactions settled through a third-party payment network. ALL payments received through the Zillow Rent Payments platform are reportable payments. IRS guidelines require the total gross amount of all payments received through the Zillow Rent Payments platform to be reported on Form 1099-K.
Who should I contact with questions regarding my 1099-K??
Contact your tax advisor with questions like:
- How to update your taxpayer information with the IRS
- How to file taxes if your 1099-K needs to be split between multiple taxpayer IDs
- What you need to report and how to report it on your tax return
- Any state-specific reporting obligations and thresholds.
*Any questions related to your tax payments, or how to report 1099-K information on your personal tax return must be directed to your personal tax advisor.
Contact Zillow support with questions about:
- Verifying your information
- Errors on your 1099-K tax form
Stripe Express FAQ
What is Stripe Express?
Stripe Express is a service provided by Stripe, the payment processor used by the Zillow Payments platform. It facilitates the preparation and filing of your Form 1099-K. By confirming your tax information and setting up e-delivery with Stripe Express, you ensure that your 1099-K tax form is accurate and sent to the correct destination.
Which email address are Stripe Express invitations sent to?
A Stripe Express invitation will be sent to the email address you used when you first signed up to use the Zillow Rent Payments platform, even if you have updated your email address with Zillow later. If you haven't received an email from Stripe Express by the end of November, please check your spam/junk folder. Additionally, add email@example.com and firstname.lastname@example.org to your contact list before contacting Stripe Support.
Why haven’t I received a Stripe Express invitation?
Check your spam or junk mail folder in case your invitation landed there.
You might not receive an invitation if you did not receive gross payments totaling more than $600 USD, or if Stripe doesn’t have the correct email address on file. If you cannot locate the email, please submit a help request or email us at email@example.com.
Why is Stripe requesting personal information like my Social Security Number?
Stripe requires your Social Security Number to properly file your 1099-K tax form with the IRS.
If you have met the reporting threshold (if rent payments made to you in 2023 were over $600) that requires a Form 1099-K to be sent to you, the IRS requires your taxpayer information to be verified before filing the 1099-K.
If I update my information through Stripe, will I also need to update my Zillow Rental Manager profile?
No, as long as your information is verified through Stripe, no further action is required on your Zillow Rental Manager profile.