While we can’t give you financial advice on how to file your taxes, we've compiled some tax information that should help below.
- In many jurisdictions, the money you receive from your Members is considered taxable income if you earn above a certain amount per year, which means you should declare it when filing your taxes (but check with your state/local government just to be sure). A local tax/financial advisor would know for certain, so we encourage you to reach out to one for additional information.
- Based on the instruction on the W-8BEN if you are a US citizen you should fill out a W-9 during tax season if you make $20k+ USD in a calendar year using Sunroom; exceptions to this being if you live in Illinois, you must submit a W-9 if you make more than $1000 per calendar year using Sunroom, and must only submit a W-9 in Maryland, Massachusetts, Vermont, and Virginia if you make more than $600 in a calendar year when using Sunroom.
If you need more help on this, please contact your personal accounting, banking or finance teams.
