Paying Federal Taxes from Affiliate Income

[beejay34]

Anyone have any idea about the IRS and affiliate income? Is there a seperate tax form you need to fill out to claim your affiliate income? Don't worry I wont hold anyone to what they say. I'm new to this and just want some advice.

[skibum]

[webmasterworld.com...]

[LanaST]

if the network is run properly they should advise you of all this when you sign up. It's usually in the terms and service of each but they safest way is to contact someone from the network and make sure you do everything properly.

[beejay34]

thanks guys

[Beagle]

If you made more than a certain amount (I think it's $600) from any one program, they should send you a 1099 form which shows how much income they told the IRS you made. Similar to a W2 except, of course, they didn't withhold anything so it's all reported as income. If you agree with their figures, having the form makes it a lot easier to file your taxes.

If you had substantial expenses (that you have IRS-acceptable records for), you might want to make a quick run through a Form C or C-EZ to see if it would save you anything to file the affiliate income and expenses as a business.