I was with Vine 2023 to November 2024 when I opted out.
My husband and I filed jointly.
We received a $29,200 standard deduction. This is way over the amount of income received by both of us in a year.
We receive SSA, SSI and SSDI as our main sources of income.
When our taxes were professionally filed, our income was shown as 0 on the 1040 form, line 10.
I was not selling the products, I received. I only am using them for personal use.
How can we be paying the IRS taxes with no actual income? I have it set up for them to take payments monthly.
Should I do a tax amend?
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You probably received a 1099-NEC form containing your taxable income for your products. That income is subject to 15.3 percent of self employment tax even though you don’t have a regular income tax liability.
You can avoid that tax if you consider that income a hobby by reporting it as other income instead of self employment income in the program.
Yes did you get a 1099NEC or a 1099K from Vine? Did you enter it and fill out schedule C for self employment income?
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