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Returning Member

Transferring reported income to another individual

A friend of mine is earning income through Instagram, but my social security number is attached to it. So, I will get taxed for money that I am not earning. We are registered as an ‘individual’ business type, as opposed to an LLC. Is there a way I can get my tax info and ss number off that account, with some sort of tax form? I have found no way to contact Instagram and get it sorted out with them. 

1 Reply
Employee Tax & Finance Expert

Transferring reported income to another individual

Your friend would either have to stop earning income under that business type OR you issue them a Form 1099-NEC as a busieness expense to offset the income being earned, so you won't pay tax on it.

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