I looked at the YPN tax thing, and it says Does that mean that if you made less than $600, they won't send you a 1099? Because I thought they had to send one out to everyone.
If you did not receive over $600, you will not receive a 1099. It is up to you to report the income if it's less than $600.
Yeah if that is your only source of income. But if you made over $600 or whatever the threshold is, you have to report ALL income. So they should have to give me a 1099.
Both. At least both are supposed to. Yahoo should report it, and then you should also. Which is why it doesn't make any sense for them not to send the 1099 to everyone. EDIT: I should have looked further down the page, there is already a thread about this - http://forums.digitalpoint.com/showthread.php?t=222959
I think You have to report what ever income you have earned to be safe. But yahoo by law has to send the 1099 only if you have earned $600 or more during 2006. The earned income will be reported by yahoo as expenses to IRS.
I have a question about my brother who's a minor, he's also got into the advertising scene, does anyone know anything about tax for minors?
mvhs -- it varies from state to state. I know in IL/IN minors do not have to report their income unless it exceeds I believe $4500.