Kalshi tax forms: four 1099s, and none reports your trades.

Kalshi gives its thresholds in its Social Security Number article: more than $10 of interest a year, and more than $600 of incentive credits such as referral bonuses, with referral and liquidity incentive credits counted together. At the 3.50% variable rate Kalshi pays on balances of $250 or more, about $286 held for a full year earns $10.

The IRS line for a 1099-INT is $10 (IRS instructions). For a 1099-MISC it was $600 through tax year 2025; for tax years beginning after 2025 the IRS instructions set it at $2,000, adjusted for inflation from 2027. Kalshi’s help center still says $600. Kalshi publishes no dollar line for its 1099-B or 1099-DA.

Who gets a form

Only members who cross an IRS reporting threshold

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Interest

More than $10 in a year is reported to the IRS

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Interest rate

3.50%, variable, paid monthly on balances of $250 or more

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Incentive credits

More than $600 in a calendar year is reported to the IRS, and needs an SSN on file

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Referral credits

Count toward the same threshold as liquidity incentive credits

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Crypto transfers

Processed for US members through Zero Hash, which converts crypto to and from dollars

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The Documents page splits the statement by year into two figures, PnL with fees and PnL without fees, each with a download of that year’s transactions. On the account in the capture above, 2026 reads +$14.60 with fees and +$136.93 without, a gap of $122.33. Kalshi’s help center says the figure is computed first in, first out.

The download is a zip holding one CSV, named for the year’s dates (realized_pnl_2026-01-01_2027-01-01.csv), with 13 columns: one row per closed lot, with entry and exit prices, open and close fees, and profit with and without fees, plus a row for each credit, with no ticker and its amount as the profit. Contract counts can be fractional, and the rows sum to the two figures on the page. The help center says the statement updates on the first morning of each month; the 2026 download on October 8, 2026 already held closes from that morning.

Three things follow from Kalshi’s own wording.

• Closed positions only. A position open on December 31 is not in that year’s figure, at any price, and nothing on the statement or the forms gives it a year-end value.
• Credits sit inside the figure. The help center says the figure “includes fees and any rebates”; the Documents page says “fees and any credits or rebates.” A credit over the 1099-MISC threshold is therefore on the 1099-MISC and also inside the P&L total; the CSV lists it as its own row.
• The API shows trades, not credits. No endpoint in Kalshi’s API returns credits or interest, so a figure rebuilt from the API, ours included, is trading only and reads below Kalshi’s headline by the credits. On one account we measured, the rebuilt figure was −$181.92 against a headline of −$171.93 that included a $10 credit.

P&L statement

Yearly, first in first out; the help center says it updates the first morning of each month

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What the P&L covers

Realized profit and loss from closed positions, including fees and any credits or rebates

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P&L download

A zip of one CSV, realized_pnl_<start>_<end>.csv: one row per closed lot, plus a row for each credit

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How current

The 2026 download on October 8, 2026 already held closes from that morning

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December 31 price

Not on Kalshi’s statement or forms for a position still open

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Daily price history

A public daily candlestick for each market, closing at its last traded YES price

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There is no IRS guidance on whether event contracts are Section 1256 contracts. Of the people we’ve seen file, three routes are the most common, and each has a place for trades no broker reported.

• For people filing under Section 1256, Form 6781 line 1 takes box 11 of each 1099-B, and its instructions say to “list separately each transaction for which you didn’t receive a Form 1099-B or substitute statement.” For Kalshi trades, that is every one. Boxes 8 to 11 of a 1099-B are where a broker reports profit or loss on regulated futures and Section 1256 contracts (IRS instructions). Form 6781 for event contracts walks through the form.
• For people filing as standard capital, Form 8949 box C (short-term) and box F (long-term) are for transactions “not reported to you on Form 1099-B or Form 1099-DA.” Standard capital treatment covers the rows.
• For people reporting the year as gambling, winnings go on Schedule 1 and losses come off on Schedule A only for those who itemize. Kalshi lists no W-2G among its forms.

Income is taxable whether or not a form reports it: the tax code counts “all income from whatever source derived” (26 U.S.C. §61). The same year under each route, in dollars, is in the Section 1256 60/40 rule.

In the app, the forms sit under each year on a page labelled Documents in the account menu, at kalshi.com/account/taxes. Kalshi’s help center calls the same place “the Account tab under the Tax Info page,” and its trading history article calls it “the documents tab.” No Tax Info label appears in the app as of October 8, 2026. Some forms also arrive by email from Zenwork, Kalshi’s tax form provider.

If no form appears, Kalshi says it is likely because no IRS threshold was met. That covers interest, credits and crypto, and says nothing about whether the year’s trading made or lost money. Kalshi uses a Social Security Number for this reporting and does not need one to deposit, trade or withdraw by non-crypto methods.

Where

Account menu, Documents (kalshi.com/account/taxes)

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Help center says

The Account tab, under the Tax Info page

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Trading history article says

The documents tab

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Delivery

Some forms by email from Zenwork, Kalshi’s tax form provider

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No forms listed

Likely no IRS threshold was met

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Social Security Number

Used for tax reporting; not needed to deposit, trade or withdraw by non-crypto methods

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Unapplied credit

Adding or confirming an SSN is often what is needed

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• The 1099-MISC line rises from $600 to $2,000 for tax years beginning after 2025, adjusted for inflation from 2027. Kalshi’s help center still gives $600, so for 2026 credits between the two the help center and the IRS instructions point different ways.
• The account in the capture above received a 1099-DA for 2025. For 2026 the IRS instructions make gross proceeds reporting mandatory for all digital assets, and basis reporting mandatory for those that are covered securities.
• Perpetual futures trade through Kalshi Prime, a futures commission merchant separate from Kalshi’s prediction market exchange, and Kalshi’s tax article does not mention them. This page covers event contracts.