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9:06 pm
January 25, 2014
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frugaling
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Hey Yakezians!
I'm trying to fill out my taxes for 2013, but running into a bit of trouble. I have not received a 1099-MISC form from an affiliate – LinkOffers. I'm curious to know if any of you have some experience with this affiliate and what I need to do to report my earnings.
Thanks for your help,
Sam
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7:13 am
January 26, 2014
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debtroundup
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They have until the 31st to send it out, so they might just be holding off.
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11:09 pm
January 27, 2014
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Untemplater
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Also you will only be issued one if you earned $600 or more. Some vendors are really slow with sending out the forms.
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8:14 am
January 28, 2014
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frugaling
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Just heard from them. They said they're sending them in the mail by Friday. So should have the form next week… Hello, self-employment tax. :/
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5:03 pm
January 28, 2014
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debtroundup
| | Raleigh | |
| Member | posts 190 |
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Untemplater said:
Also you will only be issued one if you earned $600 or more. Some vendors are really slow with sending out the forms.
That really depends. Companies have to send them out if you make $600, but you get one per company if you reach that amount just with that particular company. Some others will send them out if you make close to $600
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9:36 pm
January 28, 2014
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Untemplater
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debtroundup said:
Untemplater said:
Also you will only be issued one if you earned $600 or more. Some vendors are really slow with sending out the forms.
That really depends. Companies have to send them out if you make $600, but you get one per company if you reach that amount just with that particular company. Some others will send them out if you make close to $600
Seems like a waste of time and money for companies to issue forms to those under $600 since the IRS doesn't need them. I guess they do it because they'd rather be on the safe side and report it than not.
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10:07 pm
January 28, 2014
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Edward Antrobus
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$600? I thought it was more like $50. unless there are different thresholds for different uses of the MISC. I'm certain that the instructions said that I needed to send the form out to my authors that received a very low amount for royalty payments.
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3:24 pm
January 29, 2014
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Eric – PersonalProfitability.com
| | Portland, OR | |
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Edward Antrobus said:
$600? I thought it was more like $50. unless there are different thresholds for different uses of the MISC. I'm certain that the instructions said that I needed to send the form out to my authors that received a very low amount for royalty payments.
Rules for royalty payments are different than earned freelance income or other sources.
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3:25 pm
January 29, 2014
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Eric – PersonalProfitability.com
| | Portland, OR | |
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frugaling said:
Hey Yakezians!
I'm trying to fill out my taxes for 2013, but running into a bit of trouble. I have not received a 1099-MISC form from an affiliate – LinkOffers. I'm curious to know if any of you have some experience with this affiliate and what I need to do to report my earnings.
Thanks for your help,
Sam
You don't technically need the 1099 form if you can pull a report on the site outlining your earnings. The form is just for reference. You have to pay the taxes even if you don't get a form.
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4:33 pm
January 29, 2014
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frugaling
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Eric,
How do you account for the income, then? What schedule/form? Also, 1099-MISCs seem to require business id that's making the payment. How do you get all that information without the form?
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9:15 am
January 30, 2014
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Eric – PersonalProfitability.com
| | Portland, OR | |
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All of the affiliate networks have reports you can run that summarize your income, or you can look at your bank deposits from them and add them up the old fashioned way.
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2:32 pm
January 30, 2014
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frugaling
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| Member | posts 139 |
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Eric,
Thanks for replying to me. Unfortunately, that wasn't what I was asking. How are you reporting your income? What tax form do you report this side income that has a self-employment tax? I know how to total the amount, it's about reporting the income. The 1099-MISC explains where the income was coming from to the IRS. Without that, how are you reporting the extra income? What blocks?
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5:46 pm
January 30, 2014
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The College Investor
| | San Diego, CA | |
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You report it on your schedule C, line 1 – no matter if you got a 1099 or not. You just add up all your earnings.
If you use something like Wave or Freshbooks, it makes it really easy, but otherwise you can do it yourself.
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7:16 pm
January 30, 2014
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frugaling
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| Member | posts 139 |
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9:45 pm
January 30, 2014
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Untemplater
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yeah Schedule C. Don't forget you can report expenses as well when you have self employment income.
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8:29 am
January 31, 2014
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Eric – PersonalProfitability.com
| | Portland, OR | |
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If you use Quickbooks, you can print out the P&L report for 2013 and use that to inform your Schedule C. Here is a link to the form: 2013 Schedule C
You can fill in a schedule C with programs like TurboTax, but I have an accountant take care of it for me to be safe.
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