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Get your taxes done using TurboTax
1099-K is for Payments Processed by a third-party entity. So, Patreon is acting like Pay Pal or Amazon, which means Not Your Bank. It has nothing to do with your Tax year. 1099-Misc and/or 1099-K are "informational." As a self-employed artist, even if you Never get those forms, you still do all your financial tracking and reporting for tax purposes.
Example: Selling $500,000 total of art pieces to individuals that pay you directly means there is no 1099 reporting. You still track everything and report for tax purposes.
Example: Selling $500,000 total of art pieces to individuals that pay you directly means there is no 1099 reporting. You still track everything and report for tax purposes.
May 31, 2019
5:35 PM