Hello!
I need some help on properly filing the money I made on Twitch from last year. I'm going to use some general values, so let's say I made $150 on Twitch. I received a 1099MISC which only reports $100 in BOX2 labeled royalties.
I went through the Turbo Tax program and selected the SELF EMPLOYMENT tab and selected the option that describes the work as "It's Something Else". I went through it and added my 1099MISC info.
My understanding is that the other $50 is classified as digital content and characterized as service income (Bits received on Twitch) and you don't receive a 1099NEC form if you don't hit the threshold. Would I still fill out the NEC form and just put the $50 on it?
Twitch streaming is just a hobby of mine, I don't plan on deducting expenses. I just want to know if I'm properly reporting this small income, or should I just put total amount I earned into another category?
