How does the IRS approach incomes like OnlyFans and Premium Snapchats tax-wise?

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Income is income and must be reported. If those websites pay you over a certain amount of money, they will send you a tax form as proof.

  • Onlyfans collects money, and they will issue 1099 forms if the person makes more than $600.
  • Premium Snapchat is similar. If they are collecting money directly and forwarding it to the person, they should also issue 1099 forms.

This is probably considered a sole proprietorship, and the IRS wants tax on it. They are probably also required to report anything over $400 for Social Security and Medicare taxes.

The IRS wants your full income reported. They don’t care if you sold drugs, are a cam girl, or sell bundled socks in a flea market.

Even if you don’t have someone issuing official documents, it is legally required to declare all the income for the year.

How does the IRS approach incomes like OnlyFans and Premium Snapchats tax-wise?

Income is income and must be reported. If those websites pay you over a certain amount of money, they will send you a tax form as proof.
Onlyfans collects money, and they will issue 1099 forms if the person makes more than $600.
Premium Snapchat is similar. If they are collecting money directly and forwarding it to the person, they should also issue 1099 forms.
This is probably considered a sole proprietorship, and the IRS wants tax on it. They are probably also required to report anything over $400 for Social Security and Medicare taxes.
The IRS wants your full income reported. They don’t care if you sold drugs, are a cam girl, or sell bundled socks in a flea market.
Even if you don’t have someone issuing official documents, it is legally required to declare all the income for the year.

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