- A 1099-K tax form is a statement of income that merchants receive from their processors in late January to early February for the previous tax year.
- Forms are mailed to you via USPS and sent to the address the processor has on file by January 31.
- Businesses in Massachusetts that have processed more than $600 will receive a 1099-K. No transaction minimum applies.
Overview
To receive a 1099-K for your Cloudbeds Payments transactions, you must have met the following qualifications within the calendar year for transactions processed through this merchant account:
- Are based in the US, or is a US taxpayer
- Processed more than $20,000 via your Cloudbeds Payments merchant account AND
- Processed more than 200 transactions via credit card on via your Cloudbeds Payments merchant account
If you have met the above criteria, a 1099-K form will be mailed to your legal business address via USPS by January 31st of the following year.
How to check if you are qualified
Reporting on your site can help you view your total income processed, fees, and sales tax details for any date range.
Here are helpful reports:
If you believe you should have received your copy based on the above criteria and have not or have any questions, please email risk@cloudbeds.com.
- For businesses that don't meet the above Payouts processing criteria in a calendar year to receive a 1099-K for Cloudbeds Payments transaction, you can surface your income information using the reporting resources listed above inside your Cloudbeds PMS.
- You should speak with a tax advisor to help you file your taxes or if you have questions regarding tax reporting requirements.
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