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Will I receive a 1099 form for my profit?

Will I receive a 1099-NEC tax form?

Yes, if you meet the IRS threshold. We will issue 1099-NEC forms at the end of each fiscal year to any client who has earned the current IRS minimum threshold in total commissions during that year (verify the current amount at IRS.gov, as this figure is subject to change).

Here is how the process works depending on your status:

  • If you meet the IRS reporting threshold: You will receive an email from MOQ1 requesting a completed W-9 form so we can accurately prepare your year-end tax documents.
  • If we already have your W-9 on file: No further action is required. We will use the information we already have on file and will not reach out to you for anything new.
  • If your information has changed: If you need to update a W-9 we already have on file (due to a change in address, business name, or tax ID), please send the updated form directly to your Account Manager.