The IRS updated the 1099‑K reporting rules for tax year 2025 (forms issued in early 2026). These changes impact when third-party payment processors like Stripe and ProPay are required to issue 1099‑K forms for payments you receive through RentRedi.
📌 What Changed for RentRedi Payments
For 2025, RentRedi's payment processors, Stripe and Propay, are only required to issue a 1099‑K if both of the following are true in a calendar year:
You received more than $20,000 in gross payments, and
You had more than 200 transactions processed
Example: If you received $25,000 in payments but only had 150 transactions, Stripe is not required to send a 1099‑K.
📌 State Thresholds
Some states have different thresholds or requirements for a 1099-K to be issued. You can find your state's thresholds and requirements here: 👉 1099-K form state requirements
🔗 For More Details
You can review the IRS’s official guidance on the reinstated 1099‑K reporting threshold here: 👉 IRS Form 1099‑K Threshold Guidance
📍Getting Your Rental Income Totals in RentRedi
RentRedi provides reports that can help you determine your rental income when preparing your taxes.
Shows income and expenses per property in a format commonly used for tax reporting.
Provides a summary of income and expenses across your entire portfolio.
You can export and share them with your accountant or tax professional when preparing your tax return.