MakerPlace End of Year Tax Forms

What You Need to Know About Tax Forms from MakerPlace 

Which tax forms does MakerPlace provide? 

1099, 1099-K, Schedule C, 1040, Schedule SE—we get it, it can be confusing trying to figure out what you need to file your taxes.  

We’ll make it easy: Michaels will only issue 1099-K forms for MakerPlace. You should consult your accountant or tax professional for guidance, assistance or questions about any other forms.  

What is a 1099-K form? 

A 1099 form is for self-employed individuals who are getting paid but not having any income tax collected. A 1099-K is required for individuals being paid from a third-party service like PayPal or in this case, MakerPlace by Michaels.

This form summarizes your total sales on MakerPlace. No taxes are withheld on the 1099-K. Consult your tax professional to determine what’s best for filing taxes for your business. 

What date will 1099-Ks be released to sellers?   

2024 1099-K forms will be released and available on your seller portal January 31 each year. 

Where do I find my end of year tax form on MakerPlace? 

You can find the form on your Seller Portal. The 1099-K form will be posted there in your Finances section. It will not be emailed or mailed to you.

Here's how to find your 1099-K form on MakerPlace:

Step 1: Log on to the seller portal 

Step 2: Navigate to the left navigation rail (“MY STORE” header) and go to “Finances." 

Step 3: Click on “Tax Information.” 

Enter the password you use to log into your seller portal to access your store.

There you will see a recap of your Tax Information, and a section to select your 1099-K Tax document, if you have one.

If you have sold $600 or more that year, you can select, view and download your tax form in the "Select a form to view" dropdown. If you have not earned $600 in the year, you will not see any forms to select.

What is the minimum amount makers need to earn to have a 1099-K generated by MakerPlace?  

Currently we will issue a 1099-K for all sellers that had sales of $600 or more. This is a federal requirement and does not vary by state. 

Will everyone get a 1099-K form on MakerPlace?  

No. Currently we will issue a 1099-K for all sellers that had sales of $600+ 

How long is 1099-K available for a Seller to access? 

MakerPlace will retain tax forms for seven years.

For more information, contact makerplacesellers@michaels.com.