If you earn $600 or more in profit on Underdog Fantasy, you'll need to provide tax information, and you will receive a 1099 form to report your winnings on your federal income tax return.
Tax Information Requirement
Once you earn $600 or more in profit on the platform, you’ll need to fill out tax information in your account.
1099 Form
Underdog Fantasy does not directly tax your winnings, but if your profit stays at $600 or more in a given year, you’ll receive a 1099 form. This form is essential for reporting your winnings on your federal income tax return.
Winnings Reported on 1099
The 1099 form will include all winnings of $600 or more, regardless of how much you withdraw from your account.
Form Link
The link to the tax form can be found here. Please fill out all boxes. If you do not live at an address that is an apartment, fill out that section as "N/A".
2027 Tax Update
If users finish the 2026 calendar year with net profits of $2,000 or more, they will qualify for a 1099. This represents an increase from the previous $600 threshold. This change applies to 1099s issued in 2027 and does not affect 1099s issued for 2026 or prior years.