How do i file taxes from making money with streaming on spotify/apple music etc. and can i deduct equipment without being an LLC.

[ebubekirbinici]

so i have music on music streaming platforms . I want to know how i can file my taxes using turbotax. I have made $14k in the last 3 years. Its basicially below $10k per year, but since we have to report every 600$ i figured id just do it all at once and get it over with. Also how can i deduct musical equipment, internet, car insurance etc. from it if im not an LLC.

[tagteam]

You don't need "be an LLC" in order to deduct expenses.

You can deduct your ordinary and necessary business expenses on Schedule C (1040) which you should be filing every year (not just all at once) if you have business income (as a sole proprietor) in excess of $400. 

Note that you need to report all of your business income, but you will not owe self-employment tax if your income is less than circa $400.

You might want to consult with a local tax professional for guidance.

[xmasbaby0]

@ebubekirbinici 

"..... i figured id just do it all at once ..."

No.  You cannot put the past several years of self-employment income on the same tax return.  Each year must be filed separately, using the forms and software for the specific tax year.  If you had even $400 of self-employment income for a tax year, you were supposed to file a tax return and pay self-employment tax for Social Security and Medicare, even if you did not earn enough to owe ordinary income tax.

Each tax year has to be filed separately using the forms for the specific tax year.  They cannot be combined in any way--do not even put them in the same envelope when you mail them.  Software for past years is available back to 2020.  Any earlier years can only be prepared on paper forms by hand--and those refunds have been forfeited now.

Online preparation and e-filing for 2020, 2021, and  2022 is permanently closed.

To file a return for a prior tax year

 If you need to prepare a return for 2020, 2021, or 2022  you can purchase and download desktop software to do it, then print, sign,  and mail the return(s)

https://turbotax.intuit.com/personal-taxes/past-years-products/

You may also want to explore purchasing the software from various retailers such as Amazon, Costco, Best Buy, Walmart, Sam’s, etc.

Remember to prepare your state return as well—if you live in a state that has a state income tax.

https://ttlc.intuit.com/community/state-taxes/help/how-do-i-contact-my-state-department-of-revenue/0... 

When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.

Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.

Note:  The desktop software you need to prepare the prior year return must be installed/downloaded to a full PC or Mac.  It cannot be used on a mobile device.

If you are getting a refund, there is not a penalty for filing past the deadline.  If you owe taxes, the interest/penalties will be calculated by the IRS based on how much you owe and when they receive your return and payment. The IRS will bill you for this; it will not be calculated by TurboTax.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

[ebubekirbinici]

technicially its not a business, just a hobby. I uploaded music to streaming services. They gottan millions of streams and i make money. 

[xmasbaby0]

"....... how can i deduct musical equipment, internet, car insurance etc. from it if im not an LLC."

You cannot have it both ways.   Either you have been receiving hobby income, or self-employment income.  And either type of income was supposed to be put on your tax return.   If you had hobby income, you cannot deduct expenses.   If you had self-employment income, you can prepare a Schedule C for your expenses.

HOBBY INCOME

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/report-hobby-income/L62QCBC52_U...