Do I need to pay taxes on payouts from Peerspace bookings?

As a host, your gross earnings through Peerspace bookings may be subject to US income taxes. To assist with US tax compliance, we collect taxpayer information from hosts in order to provide an account of your earnings each year.

To add your taxpayer information, log into your Peerspace account and go to the Payments page.  

If you are a business and have added a corporate bank account, you should enter your Employer Identification Number (EIN). If you are an individual and have added a personal bank account, you should enter your Social Security Number (SSN).

At the end of January, we'll provide hosts who have submitted taxpayer information and transacted through Peerspace with a Form 1099-MISC, showing their reportable earnings from the previous year. If you don't receive a 1099-MISC and have completed bookings through the marketplace during the previous year, please read our FAQ section below.

Beyond that, Peerspace does not handle personal tax duties for hosts, so you will be responsible for complying with the tax regulations in your area and determining if you are required to pay taxes on your Peerspace earnings.

For more information on taxes, please read our Services Agreement.

I didn’t receive a 1099 from Peerspace this year. Is this a mistake?

Peerspace will not be sending a 1099-MISC in the following cases:

  • If you made less than $600 in booking payouts over the course of the year.
  • S-Corporations and C-Corporations don’t receive 1099s. If you are a single-member limited liability company (LLCs) or a one-person Ltd. that’s not treated as an S-Corporation or C-Corporation, you should receive a 1099.

If you made more than $600 in bookings but didn’t receive a 1099-MISC from Peerspace, please get in touch with our Customer Support team at help@peerspace.com

If I made less than $600 this year and didn’t receive a 1099-MISC from Peerspace, do I still need to report earnings?

If you earned less than $600 over the course of the year, Peerspace won’t send a 1099-MISC, but you still have to account for the income when filing taxes.

If my business is a nonprofit, do I need to report the income?

If you made more than $600 in bookings, you will receive a 1099 from Peerspace. Since there are exceptions with nonprofits, we suggest you to review this information directly with your accountant to make sure you comply with tax regulations.

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