Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 26, 2023 11:45:00 AM

Will I need to report income for OnlyFans if a) I have not withdrawn any earnings b) if OnlyFans isn't even providing a 1099 for the calendar year of those earnings?

I have earnings in 2022 from OnlyFans, however, I have not cashed out those earnings. OnlyFans has informed me that, since the funds are still there and unrealized, they will not be providing a 1099. As they will not be reporting, is the unrealized income something that should be reported/taxed

0 2 1459
2 Replies
Expert Alumni
Jan 26, 2023 12:00:36 PM

Yes, you will need to report this money as income, even though you have not "cashed out" the money is in your account and available to you.  It is similar to having a bank account.  You have the money in the account, it is still your money.  You do not have to do anything to earn it. You do not need to do anything other than withdraw it to get access to it. 

 

Whether or not they give you a 1099, has no bearing on whether or not the income is taxable. 

Level 15
Jan 26, 2023 12:23:09 PM

You are required to report all your taxable income, even if you don't receive reporting paperwork.

 

Income is taxed when you receive it.  In this case, the doctrine of "constructive receipt" means you received the money when it was available for you to draw, even if you didn't actually draw it.