What is a 1099-K Form?

Every year, the United States IRS requires that Jobox provides a form called a 1099-K for each Jobox account that meets all of the following criteria in the previous calendar year:

Users who generated more than $20,000 USD in total gross volume of credit card payments AND more than 200 charges.

On November 21st, the IRS announced that the 1099-K filing threshold will remain at 20,000 USD and 200 transactions for tax year 2023.

A 1099-K Form is a form that summarizes the activity of credit card transactions on your account and is designed to assist you in reporting your taxes. It is mandatory for Jobox as the merchant platform to provide this information to the user and to the IRS. It is NOT a report of earnings as it doesn’t factor in other costs that you may incur to run your business.

Who gets access to my 1099-K report?

The 1099-K Form is provided to you and the IRS

When and how will I receive my 1099-K form?

You will receive your 1099-K Form by Jan 31st, 2023 in a secured digital copy to your email address on file.

Why do I need to get it from Jobox?

The 1099-K Form summarizes the credit card transactions of your account with Jobox in 2023 and is designed to assist you in reporting your taxes. If you have more than $20,000 USD in total gross volume of credit card payments AND more than 200 charges, it is mandatory for Jobox as the merchant platform to issue the 1099-K Form to our users.

What should I do with the form?

The 1099-K Form is designed to assist you in filing your taxes.

Keep in mind that states may also have requirements and separate deadlines for reporting 1099-Ks and filing them. We recommend consulting a tax advisor to determine your state filing requirements.

Are tips included in the 1099-K Form?

The 1099-K Form represents the full transaction amount captured with credit cards. If you charged the tip via credit card, it will be included.

How do I request my 1099K Form?

If you are eligible according to your financial activity during 2023, meaning that you have more than USD 20,000 in total gross volume of credit card payments AND more than 200 charges, the 1099-K form will be sent to you automatically. If you did not process payments within those thresholds, Jobox will not issue you the form.

How can I get a report of my payment activity if I'm not eligible to receive the 1099K Form?

You can download your account reports directly from the app and get visibility on all payments collected within the desired period.

How can I get a report of all the credit card fees I paid?

You can easily generate and email yourself your wallet transactions. This report will include the dates, senders, recipients, amount, and fee of every charge or payment. Click here to learn how to generate a wallet report.

How to open the secured email of my 1099-K Form?
​The email will include instructions on how to open the secured PDF file.
Make sure you are using the first 4 letters in lowercase that come after the word 'Dear....' in the email, and then use the last 4 of SSN or EIN you put on file.

The password is based on Recipient data in the system and is generated automatically. If there is a typo in the Social Security Number (SSN) or Employer Identification Number (EIN), the recipient should contact Jobox to find out what was used in their profile to be able to open the PDF.

** The content of this article is for informational purposes only, you should not construe any such information or other material as legal, tax, financial, or other advice.