If your payment account didn’t qualify to receive a 1099-K from RentRedi’s payment processor for tax year 2025, don’t worry — you do not need a 1099-K to file your tax return.
Many landlords successfully file their taxes using their own income records and reports available within RentRedi.
What is a 1099-K?
A 1099-K is a tax form issued by payment processors to report the gross amount of payments processed through their platform during the year.
This form summarizes the total gross payment transactions processed, but it does not calculate your profit, expenses, or taxable income. It simply reports the gross total amount of payments received through the platform.
IRS Reporting Threshold
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.
Note: Some states have different thresholds or requirements for a 1099-K to be issued. You can find your state's thresholds and requirements here.
It’s important to note that all rental income is still considered taxable income, even if you do not receive a 1099-K from RentRedi's payment processor.
Reports You Can Use 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. ✅