Embedded Files
1099s will be issued electronically by Jan. 31, 2023
You will receive an email (to the email address we have on file) from Track1099, an online tax form delivery service that processes eXp Realty tax forms. In the email, there will be a hyperlink for you to view and/or download your 1099. You will be required to enter the last four digits of your tax ID number on file to access the information.
Need a copy of your W9?
For the fastest support, come into eXp World and speak with our accounting department. You may also email the accounting department and request a copy.
What is included in my 1099?
Net agent commissions earned
Revenue share payments
Stock issuances (ICON, stock awards, etc.)
AEP 10% discount dollars
Various fees accessed per transaction
1099 income amount
All information is compiled on what is referred to as a cash basis. If you close a transaction in a “‘single check” state, the commission is included in the year in which you were paid. For example, if a home closed for one of your clients on Dec. 30, 2022, but we did not receive final paperwork until Jan. 2, 2023 and you were paid on Jan. 3, 2023, that transaction will be included on your 2023 1099 versus 2022.
Visit Accounting in eXp World or email 1099@exprealty.com to obtain a detailed report. If you email, please include your eXp Enterprise Agent ID and name to expedite the research.
Can I include fees deducted by eXp Realty as a tax-deductible expense on my tax return?
Please consult your tax advisor for proper reporting of your taxable income and deductions.
Why did I receive more than one 1099?
If you purchased stock or received any income related to stock issuance, you will receive a 1099 out of eXp World Holding.
If you did business across more than one entity, you will receive a 1099 per entity.
I think there is an error. What should I do?
Visit Accounting in eXp World or email 1099@exprealty.net as soon as possible. Be sure to include your eXp Enterprise Agent ID, name, and transactions in question. Our team will research and communicate the proper treatment, if applicable. If we made an error, we can amend and send a revised 1099 extremely quickly to ensure accurate reporting.
For timely and proper support, please do not post on Workplace or send a Workplace chat.
What if my Social Security number or EIN were incorrect? Now what?
Every year, in preparation for 1099 submission, a TIN (tax identification number) matching exercise is conducted to validate your company or individual name with the TIN/SSN provided on your form W-9, against the information in the IRS database.
If the IRS determines the information provided is not valid, eXp will send a notification by mail, asking for an updated form W-9. If the form is not received by eXp on or before the specified date, this will result in a 24% backup tax withholding, which is required by the IRS.
To prevent or stop any backup withholding, please do the following:
Provide a form W-9 with the correct TIN/SSN, per the instructions in the letter.
If you do not provide the appropriate documentation timely, eXp will withhold 24% of all outgoing payments and remit directly to the IRS. Your 1099-NEC will reflect any amount withheld as federal income tax.
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