To comply with IRS regulations, for the 2023 tax year, TPT will issue year-end tax forms (1099-K) to U.S. Sellers who met any state or federal thresholds in gross sales during the annual reporting period. The 2023 reporting period was December 1, 2022, through November 30, 2023. We use this date range to align with payouts made to Sellers during the 2023 calendar year. If you are a U.S. Seller who met the criteria above, you will receive form 1099-K from TPT. If this criteria doesn’t describe you, you won’t be receiving this tax document from us.
In order to prepare form 1099-K, TPT needs to receive form W-9 from eligible Sellers. This form is generated automatically from profile information U.S. Sellers provide during registration with our payout processor, Hyperwallet. If your Hyperwallet profile is activated and up to date, no further action is required to submit your W-9 to TPT. TPT will issue 1099-Ks based on W-9 information in your Hyperwallet account on November 30, 2023.
For eligible U.S. Sellers, form 1099-K will be issued by January 31, 2024, and made available within your Hyperwallet account. Go to Resources > Tax Documents or use this link while logged in to your TPT Hyperwallet account.
Regardless of whether you receive a tax form from us or not, it's important to understand your tax reporting needs. While TPT can't provide any tax advice, we strongly recommend that all of our Teacher-Authors talk to tax professionals to better understand how to report their taxes.
All TPT Sellers can also access detailed information about their TPT sales and expenses via your annual Sales & Earnings Statement or your Sales Details Report.