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  1. #1
    Full Member
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    January 18th, 2005
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    Ok I got a newbie question. 2002 was my first year in affiliate marketing and I have learned a lot about making money. Now its time to give some of that money back to Uncle Sam. Is it true that I only need to report income that shows up on a 1099 form?

    I looked through the various sites (BF, Linkshare, CJ, Performics). Only BF mentions anything about taxes. They say that a 1099 will be sent out by merchants if there are over $600 in earnings. Is this true for all merchants across all networks? I dont think I made $600 from any single merchant but my total is well above that. Any help would be appreciated!

    Sal @ PHATBargains.com

  2. #2
    ABW Ambassador
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    January 18th, 2005
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    Utah
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    You need to report what you honestly made. Every check that came in needs to be reported.

    Also, make sure you deduct business expenses such a domain name registration, hosting, etc.

    Michael

  3. #3
    Full Member
    Join Date
    January 18th, 2005
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    310
    You need to report all income (checks you receive). You will have a line on Sch C (I think) for income that you received a 1099 for and a line for income you did not receive a 1099 for. I don't have one in front of me, but I think that's the way it is.

    Don't forget, the IRS has a copy of your 1099 also, so they know how much should be there.

    http://www.ahugedeal.com

  4. #4
    ABW Ambassador FFoc's Avatar
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    January 18th, 2005
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by EmDub:
    You need to report what you honestly made. <HR></BLOCKQUOTE>
    You need to report what you dishonestly make, too. This is how they got Capone in the end - for tax evasion.

    Ford Fox-body Owners Club
    http://www.ford-fox.org

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