2255843
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Taxes on donated money throught paypal - streamlabs. What happens when i extent the taxes free limit?

I want to start livestreams and youtube as a hobby but i'm afraid of taxes free limit. To be honest i can't understand how tax free limit works.

So the questions are.

1: In my country the tax free limit is about 5.000to 8.000 euros. As far as i'm below this limit, the only thing i have to is to report my income from donations?

2: What happens if i extent the tax free limit? Then i have to register as an intepedent worker, get healthcare and pay each month 200+ euros? Or i can still just report my income and pay the necessary taxes?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Taxes on donated money throught paypal - streamlabs. What happens when i extent the taxes free limit?

Are you a US taxpayer?

Taxes on donated money throught paypal - streamlabs. What happens when i extent the taxes free limit?

No, i'm Greek

Taxes on donated money throught paypal - streamlabs. What happens when i extent the taxes free limit?


@Random1__ wrote:

No, i'm Greek


That doesn't quite answer my question. 

 

You are a "US Taxpayer" if you are a US citizen living anywhere in the world, a permanent resident (Green Card holder) living anywhere in the world, or a resident alien (non-citizen living in the US either with or without authorization).  You must also file a non-resident tax return if you have US-sourced income, even if you are not a citizen and live overseas.  

 

However, simply using a US-based payment service like PayPal or Streamlabs does not make your streaming income US-based.  US-based income generally means you actually worked in the US, or you own investments in the US.

 

So I don't know why you are asking your tax question here.

 

The US also does not have a "taxes free" income limit.  It doesn't matter if you were paid $1000 in a lump sum, or $1 by 1000 different people, that's $1000 of taxable income either way.  But that won't be important to you unless you have US income to file a return on, or you are living in the US.  

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question