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_jason
New Member

I made a movie and paid employees. All income paid out was through money received as a "loan." I do not know how to report this. The film has not made any money.

I know I have to pay taxes for the employee's and I reported contractors on 1099's.  It totals around 50K for all of that.
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RichardK
New Member

I made a movie and paid employees. All income paid out was through money received as a "loan." I do not know how to report this. The film has not made any money.

Generally you capitalize these expenses, there are special tax issues in the entertainment industry and you may want to seek the advice of a qualified professional to guide you through your specific situation. To learn more click here to visit the IRS website Capitalization of Motion Picture, Master Recording, and Video - Entertainment Tax Tips.

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