Patreon 1099
If you’re a creator on Patreon, tax season can feel overwhelming, especially when it comes to understanding your 1099 form. This document is essential for reporting your income to the IRS and ensuring compliance with tax regulations. Here’s everything you need to know about the Patreon 1099, including how to obtain it and what to do with it.
What Is a Patreon 1099?
A 1099 form is an IRS document used to report non-employee compensation. Patreon issues Form 1099-K to creators who meet specific earning thresholds. This form reports the total income received from patrons and is used to file taxes accurately.
Who Receives a 1099 from Patreon?
Patreon follows IRS guidelines for issuing Form 1099-K. As of 2024, creators will receive a 1099-K if they:
- Earned at least $600 from patrons within a calendar year (this was previously $20,000 with 200 transactions but has changed due to IRS updates).
- Reside in the United States or are subject to U.S. tax laws.
If your earnings do not meet the threshold, you won’t receive a 1099-K. However, you are still responsible for reporting your Patreon income on your tax return.
How to Get Your 1099 from Patreon
Patreon typically issues 1099-K forms by January 31st of the following tax year. Here’s how to access it:
- Check Your Email – Patreon usually sends an email notification when your 1099-K is available.
- Visit Your Tax Documents Section – Log into your Patreon account, go to Settings > Payouts and Taxes, and look for the 1099-K form.
- Download the Form – You can download a PDF copy directly from your account for tax filing purposes.
If you believe you should have received a 1099-K but did not, reach out to Patreon’s support team for assistance.
What to Do with Your Patreon 1099
Once you receive your 1099-K, you’ll need to report your Patreon income on your tax return. Here are some key steps:
- Include It on Your Tax Return – Self-employed creators should report their earnings on Schedule C (Form 1040) to calculate taxable income and potential deductions.
- Deduct Business Expenses – You can reduce taxable income by claiming deductions such as equipment, software subscriptions, internet costs, and marketing expenses.
- Pay Self-Employment Taxes – Since Patreon earnings are self-employment income, you may owe Social Security and Medicare taxes. Use Schedule SE to calculate your liability.
Final Thoughts
Receiving a 1099 from Patreon means you’re running a business as a creator, even if it’s a side hustle. Stay organized by tracking your income and expenses throughout the year. If you’re unsure about tax filing requirements, consider consulting a tax professional to ensure compliance and maximize deductions.