What are the tax implications?

Stripe handles transactions that take place on RallyMe. The IRS requires Stripe to file a Form 1099-K to report unadjusted annual gross "sales" information for US-based Ralliers who meet both of the following thresholds in the current tax year:
 
  • More than $20,000 in money received, and
  • More than 200 transactions

In general, contributions given to U.S.-based athletes and teams via crowdfunding are considered "gifts" under current tax law. However, we recommend that you consult a tax or financial advisor for your personal situation.







 

Contact Us

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