I have been making money as an affiliate on Amazon and am wondering how I report side income. I only earn $500 a month, but it certainly is taxable. I also sell on ebay making another $400 a month.
Posted on May 26, 2012.
I have been making money as an affiliate on Amazon and am wondering how I report side income. I only earn $500 a month, but it certainly is taxable. I also sell on ebay making another $400 a month.
Use a schedule C.
Yes, report your income on schedule C (irs.gov) and one schedule C per activity.
You may want to make estimate quarterly ax payments too. (1040ES)
that would be on Sch C and probably SE as well
Schedule C or C-EZ, schedule SE, and form 1040.
You should be making quarterly estimated tax payments as well, or you will incur a penalty at the end of the year when filing your taxes. It isn’t huge, but I hate to just give away money.
It’s technically business income. Report it on Schedule C, on Schedule SE, and on the “business income” line of Form 1040.