Tax Information
Last updated January 19, 2023
PadSplit collects the necessary fields featured within a W-9 to generate 1099-MISC forms for Host earnings. We are generally required to file a Form 1099-MISC report with the IRS if the gross amount of your rental earnings is $600 or more in a calendar year. We use the Form W-9 to request a U.S. person's taxpayer identification number (TIN) for tax reporting purposes. If we do not receive one from you, we may be required to withhold tax from your earnings as a Host.
The tax information provided on this form should correspond to the person or legal entity that we will issue a Form 1099 to report Host earnings. Only one tax form can be assigned to each payout and bank account, so your Form W-9 must identify the correct person/entity responsible for the tax reporting.
LLC or Individual Name
Enter the name of the person who should receive a Form 1099 for Host earnings.
- Individuals: Enter your full legal name as it appears on your tax return
- LLCs:
- If the owner is an individual, that individual should list their name as well
- If the owner is an entity provide the full legal name of the entity owner as it appears on the owner’s tax return
- If the Single Member LLC has elected to be treated as a corporation by IRS, enter the name of the Single Member LLC
- Partnership: Write the full legal name of the partnership
- Corporation: Write the full legal name of the corporation
- Trust: If the trust is a ‘grantor trust,’ enter the full legal name of the owner of the trust as it appears on that person’s tax return.
Business / disregarded entity name (optional)
- Individuals: who hold their PadSplit property in their own name should leave this line blank.
- Single-member LLCs and Grantor trusts: should generally provide their name if the owner's name was provided in the previous field “LLC or Individual Name.”
- Disregarded entities, DBAs, trade, and businesses: should fill their name in this field.
- Sole Proprietorship: you may enter the name of your sole proprietorship here, but enter your individual name should be filled in the previous field “LLC or Individual Name.”
Taxpayer Identification Number (“TIN”)
The TIN should match the name of the person entered on the field “LLC or Individual Name” who should receive the Form 1099 for Host earnings.
There are three types of TINs:
- Social Security Number (SSN): can be found on your Social Security card. Format: xxx-xx-xxxx
- Individual Tax Identification Number (ITIN): can be found on the CP565 notice from the IRS that assigned your ITIN. Format: 9xx-xx-xxxx
- Employer Identification Number (EIN): can be found on the CP575A notice from the IRS that assigned your EIN. Format: xx-xxxxxxx
Tax Classification
Select the appropriate tax classification for you or your legal entity (as identified on the "LLC or Individual Name" field) from the first drop-down box. Options: LLC, LLC (Single Member), Individual/Sole Proprietor, C Corporation, S Corporation, Partnership, or Trust/estate.
Address/City/State/ZIP code
Provide the address of the person or entity whose name is entered on the “LLC or Individual Name” field. This is where a physical of the 1099 would be sent, if requested.