A 1099-K is a tax form used when filing tax returns. The information on a 1099-K helps independent contractors or businesses report their annual income to the IRS as required by law. The 1099-K you receive from Taskrabbit shows how much money you were paid for your performance of tasks via the Taskrabbit platform in a calendar year from our payment processor Stripe.
Specifically in box 1a of the 1099-K, the amount shown is the total money received from tasks performed using the Taskrabbit platform, which includes:
- Task hourly payouts
- Expenses
- Tips
- Incentive payouts
As expenses are typically not considered income, you may need to subtract your total expenses from your 1099-K total when filing your taxes. You can find your total expenses by downloading your Transaction History. For specific questions about your taxes we recommend utilizing the services of a certified tax professional.
This IRS article on understanding the 1099-K form may also be of help.
Please note – The 1099-K form that you receive from Stripe will only show payouts that occurred on our platform.