What is a 1099 form?
What is a 1099 form?
Form 1099 is a series of IRS tax forms used to report income received by individuals aside from conventional wages, salaries, or tips. There are various types of Form 1099, each intended for specific income categories. HoneyBook will issue both 1099-K and 1099-NEC forms to individuals who meet the thresholds outlined below.
Form 1099-K is issued to taxpayers to report credit and debit card transactions, as well as third-party network payments. It shows the total gross amount of all reportable payment transactions within a calendar year.
This gross amount does not account for credits, discounts, fees, refunds, or any other adjustments. Consult a tax advisor for guidance on how to use the information from your 1099-K 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 reports non-employee compensation. Payments of $600 or more made to non-employees within a calendar year must be reported on this form.
As HoneyBook members are non-employees, referral payments will be included on the 1099-NEC.
Why am I receiving a 1099?
Why am I receiving a 1099?
If you received a 1099, you met a USA minimum income threshold for payments received through HoneyBook (1099-K) or referral bonuses paid (1099-NEC). Here are the thresholds:
1099-K: You received over $5,000 USD in payments through HoneyBook in 2024 (excluding marked as paid payments)
Some states have lower 1099-K thresholds than the IRS for 2025. 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:
District of Columbia: $600 USD or more
Illinois: $1,000 USD or more and 4+ transactions
Maryland: $600 USD or more
Massachusetts: $600 USD or more
Missouri: $1,200 USD or more
Vermont: $600 USD or more
Virginia: $600 USD or more
1099-NEC: You earned $600 USD or more in HoneyBook referrals through the Educator program in 2024
What payments are included on a Form 1099?
What payments are included on a Form 1099?
1099-K: The total amount of credit card and ACH payments processed on HoneyBook for the tax year
This does not include marked as paid payments and is not adjusted for any refunds, fees paid or discounts
For any questions on how to account for these adjustments, please consult your tax advisor
What information do I need to provide to receive my 1099?
What information do I need to provide to receive my 1099?
You will be asked for your name or business name, TIN (tax identification number) and address. If you are:
Filing as an individual: Confirm your SSN and personal legal name as on record with the Social Security Administration
Filing as a business: Confirm your EIN and business name as on record with the IRS
What do I do with a 1099 form?
What do I do with a 1099 form?
HoneyBook filed this form on your behalf to the IRS on January 31, 2025. The form can be downloaded in HoneyBook, and you’ll need this form to file your 2024 income taxes.
How will my form be delivered?
How will my form be delivered?
HoneyBook delivered the forms electronically from within HoneyBook. You should’ve received an email in early January 2025 once it was ready for download.
To download your form, go to Finance > Tax Hub in your HoneyBook account.
How do I change the name, address or tax identification number (EIN/SSN) on my form?
How do I change the name, address or tax identification number (EIN/SSN) on my form?
Reach out to HoneyBook's support team to make any edits to your Form 1099. You can reach them at [email protected].
What if the amount on my form is incorrect?
What if the amount on my form is incorrect?
The information on the form comes directly from HoneyBook's payment processor, Stripe, and can be cross-referenced with your payments report. To do this, select Finance > Tax Hub from the top navigation menu, then set the year range for 2024 and download the Payments completed report.
The form doesn’t include refunds, credits, or discounts and reflects only the gross amount processed through HoneyBook, excluding anything marked as paid or processed outside of HoneyBook.
If you find any discrepancies between your report and the form, contact support by clicking the Question Mark icon on any HoneyBook page and chatting in, "Talk to a person."
If I'm Canadian, will I receive a 1099?
If I'm Canadian, will I receive a 1099?
If you are Canadian, you will not receive a 1099 from HoneyBook. This is because the 1099 is a document required by the United States IRS and Canada doesn't have an equivalent rule on tax reporting to what the 1099 provides. Additionally, HoneyBook doesn't report data to the CRA.
HoneyBook Tax Hub is designed to provide information relevant for tax preparation but does not provide tax, financial, or legal advice. It is not a substitute for a licensed professional. Users are solely responsible for the accuracy and compliance of their filings. We recommend confirming any information given here by seeking the assistance of a licensed professional in your area. We do not guarantee completeness, real-time updates, or assume liability for errors, omissions, or penalties.