Do I need to report my CoachUp earnings on my tax return?

The short answer is, "Yes, you do need to report your income."

However, tax documentation will only be provided by CoachUp under certain circumstances.

Under the Internal Revenue Code (IRC) Section 6050W, CoachUp will file a 1099-K form to the IRS for coaches who earn over $20,000 AND settle at least 200 transactions with CoachUp in a calendar year. Each time you mark a session complete, or get a registration for a group event, we consider this to be a settled transaction. Coaches who meet this requirement will receive a copy of their 1099-K via U.S. Postal Service by the end of January.

Regardless of whether you meet this criterion, your yearly (net) earnings summary is accessible at all times in the “Payments” tab of your dashboard. Here you will see a breakdown of each payment that was sent to you and the date that it was sent.

Please consult a tax professional or consultant for advice about your tax status and reporting requirements. For more information, please visit the IRS website.

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