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New Member
posted Jul 8, 2020 2:39:58 PM

I'm an artist and I shared a PayPal account with some other artists that I worked with. I have proof that I sent them money, but am I still responsible for all $ made?

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3 Replies
Level 15
Jul 8, 2020 2:50:16 PM

You are posting from Self-Employed--so it appears you are reporting income received from selling your art, etc.  Pay Pal does not report anything to the IRS, so it is up to you to keep accurate records for yourself of your income and your expenses.  Then you report your self-employment income, whether you have any income documents such as a 1099Misc or if it cash paid to you.  

 

(and...I will add... my own son is an artist....so I am shaking my head...seriously ----  you are sharing a Pay Pal account with other people.....ohhhhhhhhhh..)

 

 

https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

 

 

 

 

 

New Member
Jul 8, 2020 2:57:00 PM

Thank you! I actually got a 1099-K with an amount that was more than double the money I actually made on my own. It's a substantial amount.

New Member
Jul 8, 2020 2:58:07 PM

Thank you! I actually got a 1099-K with an amount that was more than double the money I actually made on my own. It's a substantial amount.