1099Ks and Ludus
If you or your program are wondering about 1099Ks and if you will receive one, the IRS guidelines require us to send this document to you if the thresholds are met (200 transactions or $20k of total volume). The document is used for tax preparation purposes. Forward the document to your business department or treasurer. Please note that if you are a nonprofit, this is an informational document, but forwarding it to the appropriate person is still recommended.
Link to the IRS Website for more information.
1099Ks are a document that shows the total processed volume for your program in a calendar year.
1099Ks are only sent to programs that have had more than 20k in volume or 200 transactions for the year.
If your program is on checks for payout, you will receive it in the mail from Ludus.
If your program is on direct deposits for payout, the 1099K will come from Stripe.

Note: The document is used for tax preparation purposes. Forward the document to your business department or treasurer. Please note that if you are a nonprofit, this is an informational document, but forwarding it to the appropriate person is still recommended.