@kaya3667 wrote:
On TikTok, I shared my in-app referral code through the referral program to receive points I can put toward gift cards (If I share you my code, we both get points). Fetch Reward is a couponing app, but I believe the referral program is different. I redeemed many $50 gift cards, which is the highest amount you can redeem for a gift card (they all totaled to about $800). I'm not sure whether to count the gift cards in the "Other Income" on my tax form or leave it out.
If you are compensated for providing a service (TikTok content), then you would be considered self-employed, and you report your compensation on schedule C. You can deduct ordinary and necessary expenses, and you pay income tax and self-employment tax on the difference. As the recipient of the compensation, you report the compensation based on its US dollar value, even if it is not in the form of actual money.
