2025 Form 1099-K for U.S. Sellers

For 2025, Whatnot is partnering with Stripe to provide 1099-K’s to U.S. sellers who have a connected Stripe account linked to their Whatnot profile. All U.S. sellers who have used Stripe to cash out in 2025 and meet the 2025 reporting threshold (see below) will receive a 1099-K from Whatnot.

1099-Ks for 2025 will be available via Stripe by January 31, 2026.

The 1099-K issued by Whatnot via Stripe will report all 2025 Whatnot earnings.

Irrespective of whether you receive a 1099-K from Whatnot, all U.S. Sellers are responsible for reporting all of their earnings to the IRS.

All sellers can access monthly and annual Seller Statements, breaking down all income and expenses on Whatnot.

What do I need to do?

Mid-November 2025, Sellers with a connected Stripe account will receive an email invite from Stripe to begin the 1099-K process. You’ll be asked to confirm or update your tax information and opt into paperless delivery.

You’ll provide your email and phone number to access the Stripe 1099-K tool. Stripe will present a series of identity verification questions (name, TIN, DOB). If needed, you may be asked to verify additional details like your address, the last four digits of your bank account, or your last payout amount. If you are unable to verify after multiple attempts, Stripe will initiate a manual review via Stripe Express support.

Before January 31, 2026: Whatnot will issue 1099-Ks via Stripe to sellers who exceed the IRS threshold or an applicable state threshold. Seller Statements will also be issued for 2025 to all Whatnot sellers.

Notes for U.S. sellers who solely use PayPal to cash out:

• If you do not have a connected Stripe account linked to your Whatnot profile—i.e., you have exclusively used PayPal to process your cash-outs—you will not receive a 1099-K from Whatnot.
• See the steps here to establish a connected Stripe account, and start using Stripe to cash out. Once complete, you can also receive a 1099-K from via Stripe reporting all 2025 Whatnot earnings.
• Sellers that create a new connected Stripe account will be prompted to provide all of the information needed to issue a 1099-K upon onboarding.
• Sellers who have used both PayPal and Stripe to cash out may also receive a 1099-K from PayPal reporting those payments (plus any other payments made via PayPal, Venmo, etc.).

FAQs

What is IRS Form 1099-K?

Form 1099-K is used to report payments received from third-party settlement organizations like Stripe or PayPal. The IRS and some state tax authorities use this information to track income earned on online marketplaces.

What is the 2025 threshold for receiving a 1099-K?

For tax year 2025, the federal reporting threshold is:

• More than $20,000 in gross payments, and
• More than 200 transactions

This reverts to the previous federal standard following legislative updates in 2025.

Certain states have lower reporting thresholds.  Sellers in applicable states may receive a state Form 1099-K even if they are below the federal reporting threshold. 

2024 Reporting Threshold

The IRS had temporarily lowered the 1099-K reporting threshold to $5,000 for the 2024 tax year. If you earned more than $5,000 in 2024, you may have received a 1099-K for that year even if you don't for 2025.

When will I receive my 1099-K?

Whatnot will issue a 1099-K to eligible sellers via Stripe by January 31, 2026. Stripe will deliver your form electronically or by mail, depending on your selected preference.

Why do I have to provide my Social Security Number (SSN) to Stripe?

Providing a valid Social Security Number (SSN) for individuals—or an Employer Identification Number (EIN) for businesses—is required to sell on Whatnot in the U.S.

This is standard practice for all U.S. payment platforms and marketplaces in the U.S.

Why is my 1099-K issued to my personal SSN if I set up my Stripe account as a single-member LLC?

The IRS treats single-member LLCs as “disregarded entities” by default. This means the business is not considered separate from the individual owner for tax purposes—unless you’ve specifically elected corporate tax treatment and provided an EIN- and hence Form 1099-Ks are issued to the name and SSN of the LLC owner.

If you have elected for your single member LLC to be treated as a corporation for federal income tax purposes, you should update your Stripe account to business type ‘corporation’ and enter the legal entity’s EIN.

If I only used PayPal, how can I get a 1099-K from Whatnot?

If you don’t have a connected Stripe account, you won’t receive a 1099-K from Whatnot. However, you may receive one from PayPal. To get a Whatnot 1099-K that includes all earnings, set up a connected Stripe account using the steps here.

How will I receive my 1099-K from Whatnot?

You will receive a link to your Stripe dashboard via email, and you will have access via Stripe Express. 

If you have any trouble accessing your Stripe dashboard or viewing your 1099-K, we recommend reviewing the following FAQs:

• Where can I find my invite for setting up e-delivery?
• How do I get a new invite link to set up my Stripe Express account to access my tax forms?

You can also contact Stripe’s support team here.

How do I know if I have an active Stripe connected account?

If you have used Stripe to cash out in 2025, you have a connected Stripe account linked to your Whatnot account. If you have not used Stripe to cash out, you can follow the instructions here to set up a connected Stripe account.

What should I do if I receive a 1099-K?

If you receive a 1099-K, it means the IRS has been informed of your payment activity. Receiving a 1099-K (or not) does not change your obligation to report all of your earnings.

If you need help with taxes, Whatnot has partnered with Keeper to offer an exclusive discount code to Whatnot sellers. Keeper’s software is specially designed for those receiving 1099-Ks for hobbies, side hustles, and growing businesses.

Keeper has also published an article with key tax considerations for Whatnot sellers in the U.S.

What happens if I don’t receive a 1099-K?

Even if you don’t receive a 1099-K, you are still required to report all your income. Always consult with a tax professional to understand your compliance obligations.

Why did I not receive a 1099-K this year but did in 2024?

The 1099-K reporting threshold has changed significantly in recent years:

• 2023 and earlier: $20,000 and 200 transactions
• 2024: temporarily lowered to $5,000
• 2025: reverts to $20,000 and 200 transactions

You may have received a 1099-K in 2024 due to the temporary lower threshold.

Can I opt out of receiving a 1099-K?

No. If you exceed the reporting threshold, Whatnot is required by law to issue a 1099-K and file the information with the IRS.

What if I have multiple Whatnot accounts?

If your accounts share the same Taxpayer Identification Number (TIN), Stripe will combine your earnings and issue one 1099-K.

What if I transferred my Whatnot account during the year?

The form 1099-Ks are issued to the name and TIN associated with the Stripe connected account at the end of the year.  There is no option to bifurcate the reporting between account owners.  If you have transferred your account during the year you should consult with a tax professional to understand your compliance obligations.

What are the state thresholds for reporting?

Many states also require 1099-Ks to be filed either directly with the state or indirectly made available to the state by the IRS through the Combined Federal/State Filing Program (CF/SF)].

If you do not meet the IRS reporting threshold, you will still receive a 1099-K if you are based in one of the states that have a lower reporting threshold and your payments exceed that threshold. In this case, the 1099-K will be reported only to the state.

Note: Not all states have finalized their 1099-K requirements for the tax year 2025. The following states may have lower thresholds in 2025, requiring state reporting: Arkansas ($2500), California ($600), DC ($600), Illinois ($1000 and 4 transactions), Maryland ($600), Massachusetts ($600), Montana ($600), New Jersey ($1000), North Carolina ($600), Vermont ($600), Virginia ($600).

More Information

For more information on the 1099-K process via Stripe, we recommend reviewing this help page. Do not hesitate to contact Whatnot Support with any further questions.

Whatnot does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only and should not be relied upon for tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before acting on the information above.