HoneyBook will only report the funds processed through our platform to the IRS if you meet the following criteria:
1099-K: You earned $20,000 or more (OR earned income in a state with a lower 1099-K threshold than the IRS, and met that threshold*) AND processed 200 payments through HoneyBook in the year
1099-NEC: You earned $600 or more in HoneyBook referrals in the year
*Some states have lower 1099-K thresholds than the IRS for 2023. If you earned income in the states below and the amount earned is above the listed threshold, HoneyBook will file and provide a 1099-K.
Missouri: $1200
Illinois: $1,000 and 3+ transactions
District of Columbia: $600
Maryland: $600
Massachusetts: $600
Vermont: $600
Virginia: $600
If you earned $20,000 (or earned income in a state with a lower 1099-K threshold than the IRS, and met that threshold) AND processed 200 payments, we will be sharing a 1099-K electronically, in January, at which point we'll also be reporting this data to the IRS. Since we're not tax advisors, you should seek the advice of a tax consultant for additional tax help.
📚 Tip
The IRS 1099-K forms do not itemize transactions. If you're looking for itemized reporting visit your HoneyBook Reports page > Download Reports, where you can export itemized data.
Learn more about downloading PDF reports here.
If you earned $600 or more in our referral program, we will be sharing a 1099-NEC electronically, in January, at which point we'll also be reporting this data to the IRS. Since we're not tax advisors, you should seek the advice of a tax consultant for additional tax help.
If you do not meet any of these thresholds, we will not be sending you any tax forms and will not report anything to the IRS. Although we do not report these earnings to the IRS, you should still report any funds received through HoneyBook. That said, we're not tax advisors and you should seek the advice of a tax consultant.
FAQ
What is a 1099-K form?
What is a 1099-K form?
Form 1099-K is a document that taxpayers receive to report credit/debit card transactions and third-party network payments. It reports the gross amount of all reportable payment transactions within a calendar year.
The gross amount does not include any credits, discounts, fees, refunds, or any other adjustable amounts. You will need to consult with a tax advisor to determine the best way to use the information on your 1099-K form when filing your taxes.
📣 Note
Payments marked as paid are not included in HoneyBook-provided 1099-K forms, as these payments were not processed via HoneyBook.
What is a 1099-NEC form?
What is a 1099-NEC form?
Form 1099-NEC is a document used to report non-employee compensation. Any payments totaling $600 or more to non-employees in a calendar year must be reported on a 1099-NEC form.
Since HoneyBook members are not employees of HoneyBook, referral payments are included on the 1099-NEC.
What is a TIN?
What is a TIN?
Your TIN is your Taxpayer Identification Number.
If your business entity type is Individual, your TIN is your Social Security Number (SSN)
If your business entity type is Sole Proprietor or LLC-Partnership-Corp, your TIN is your Employer Identification Number (EIN)
📚 Tip
Not sure of your business entity type? Check out this article.
Should I still report my income from HoneyBook if you aren’t sending me a 1099-K or 1099-NEC?
Should I still report my income from HoneyBook if you aren’t sending me a 1099-K or 1099-NEC?
If you do not meet tax reporting thresholds, we will not be sending you any tax forms and will not report anything to the IRS. Although we do not report these earnings to the IRS, you should still report any funds received through HoneyBook. That said, we're not tax advisors and you should seek the advice of a tax consultant.
What do I need to file my taxes?
What do I need to file my taxes?
As a first step, consider checking out this DIY tax filing checklist resource.
Can you help me with filing my taxes?
Can you help me with filing my taxes?
While we want to help out all of our members, we're not tax advisors and you will need to reach out to a tax professional for your questions or concerns.
🔥 Stop
The payment amount reported on the 1099 you receive from HoneyBook will not be adjusted for any fees, credits, refunds, shipping costs, or discounts you've granted in 2023. It will report your gross payment amount—you must deduct these adjustments yourself.
Is sales tax included on the 1099-K form?
Is sales tax included on the 1099-K form?
The 1099-K form represents the total amount of payments processed through a platform, so it would include any sales tax included in a transaction.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!