Tax Reporting
As a Maker on the Elgato Marketplace, it’s important to understand your tax obligations and the role of the platform in your tax reporting.
This information should not be construed as legal or tax advice. It is advised that you consult with your tax professional if you have any inquiries regarding tax reporting.
As a Maker on the Elgato Marketplace, it’s important to understand your tax obligations and the role of the platform in your tax reporting. While Elgato utilizes Stripe Connect for managing payments, the processing of tax forms such as Form 1099-K is handled directly by Stripe.
Does Elgato issue Form 1099-K?
Elgato itself does not issue Form 1099-K. Instead, because we use Stripe Connect for processing payments, Stripe is responsible for issuing the Form 1099-K. As Elgato's payment processor, Stripe will issue this form to Makers for whom the following conditions apply in the calendar year:
Gross payment volume for sales of goods or services in a single year must exceed $20,000
The total number of transactions for the year must exceed 200.
These thresholds are set by the IRS. If your transactions in the Elgato Marketplace do not meet these thresholds, you may not receive Form 1099-K from Stripe.
How will I receive Form 1099-K?
If you have met the IRS thresholds, your 1099-K for the previous calendar year will be available to download from the Documents section of the Dashboard prior to January 31.
For more information about Form 1099-K from Stripe and other tax forms, visit Stripe's official tax documentation.
Conclusion
While Elgato is your platform for showcasing and selling your digital products, it's imperative to understand that tax-related matters are directly handled between the Maker and Stripe.
Please note that tax laws vary greatly by state and country, so it's crucial to consult with a tax professional to understand your precise obligations.
Last updated