Patreon's wonderful platform assists people supporting others who are artist or other performers. Your craft or activity is generating the fan base so you have active income to report. Patreon will issue tax forms by the then of January that you will need to report on your tax return as a small self employed business. The 1099-K or 1099-NEC, would be entered as business income and then you have the opportunity to show expenses for this income.
The steps to enter the form in TurboTax are:
- Open or continue your return.
- Search for Sch C and select the Jump to link in the search results.
- Next: ...
- Select Other self-employed income.
- On the Tell us about other self-employed income for your (type of business) work screen, enter your 1099-K information.
- Select Continue when finished.
Congratulations on your successful career,
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