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Showing posts 1 - 7 of 7, (reverse)
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02/01/2007 09:39:06 PM · #1
Does anyone know where to claim income from microstock sites when filing income tax returns?
02/01/2007 09:40:42 PM · #2
Self-employment income on a schedule SE. If you're not familiar with them, you should probably see a tax pro. (My family has owned H&R Block offices for about 20 years) :)
02/01/2007 09:42:18 PM · #3
It can also be filed under a 1099
02/01/2007 09:44:00 PM · #4
Originally posted by rainmotorsports:

It can also be filed under a 1099


It can be reported to you on a 1099, but you file it on Schedule SE
02/02/2007 01:25:58 AM · #5
Thanks!
02/02/2007 01:50:08 AM · #6
Originally posted by idnic:

Originally posted by rainmotorsports:

It can also be filed under a 1099


It can be reported to you on a 1099, but you file it on Schedule SE


Doesn't it have to be over $400 to warrant a Schedule SE?
02/02/2007 01:57:02 AM · #7
Originally posted by yanko:

Originally posted by idnic:

Originally posted by rainmotorsports:

It can also be filed under a 1099


It can be reported to you on a 1099, but you file it on Schedule SE


Doesn't it have to be over $400 to warrant a Schedule SE?

I think there's a place to file it on the regular 1040 under "Rents and Royalties" or "other income" -- the IRS probably won't care that much where you list it as long as you list it, unless you try to take business deductions on Schedule C to counter that income.
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