Tax Reporting on Novig — 1099s, Trading History & More

Novig issues 1099-MISC forms to customers who meet the IRS reporting threshold for sweepstakes platforms. You will receive a 1099-MISC if both of the following are true: your total redemptions for the calendar year were $600 or more, AND your net redemptions (total redemptions minus total purchases) were greater than $0. Forms are typically sent out in the first two weeks of February for the prior tax year.

The 1099-MISC reports your net redemptions — that is, the total amount you redeemed minus the total amount you purchased. This is the reporting standard required for sweepstakes platform operators. This amount may differ from your total account balance or your perceived "winnings."

Your 1099-MISC is sent to you by email and by physical mail to the addresses on file with your Novig account. You may be asked to confirm your SSN to view the form — this is a legitimate security verification step by Novig.

If the amount on your 1099-MISC does not match your own records, keep in mind that the form reports net redemptions (redemptions minus purchases), not net winnings from individual trades. Promotional credits, bonus Novig Cash, and voided transactions may be treated differently for tax reporting purposes.

To verify, review your full transaction history in the app (tap the Account icon, then the Transactions tab). If you still believe the amount is incorrect after reviewing, reach out through the chat with the amount shown on your 1099, your calculated amount, and the specific transactions you believe are causing the discrepancy. Our team will review and issue a corrected 1099 if an error is confirmed.

You can request a trading history statement (sometimes called a win/loss statement) for tax purposes or personal records. Reach out through the chat with the time period you need (e.g., "January 1 – December 31, 2025") and our team will process your request, typically within 1–2 business days.

For immediate access to your recent activity, you can also view your transactions in the app by tapping the Account icon and selecting the Transactions tab.

The address on your 1099 is the address associated with your Novig account at the time the form was generated. If the address is incorrect, the form is still valid for tax filing purposes. You do not need a corrected 1099 solely for an address change.

If you received a 1099 from Novig but did not create an account, this may indicate unauthorized use of your identity. Reach out through the chat immediately so we can investigate. Do not ignore this — we take identity fraud seriously and will work with you to resolve it.