Taxes on Affiliate Income

[rhwbullhead]

My question seemed to get lost in the big taxes thread, so I am reposting it. How would one go about claiming affiliate income? If it were you sole source of income, I'm guessing that you could put it on the Schedule C. What would you claim as your profession? Could you claim it as "Sales"?" If you get audited, could you just have printed out copies of your monthly statement of affiliate payments?

[rhwbullhead]

Anyone?

[rusty JEDI]

Sorry i cant help, other than to bump this to the top. But, i wonder if anyone hates affiliates enough and knows a few real names has reported any affiliates to the IRS.

rJ

[rhwbullhead]

No one knows? Would this be "other income" or can you claim it on the Schedule C?

[StellarWind]

[ QUOTE ]
My question seemed to get lost in the big taxes thread, so I am reposting it. How would one go about claiming affiliate income? If it were you sole source of income, I'm guessing that you could put it on the Schedule C. What would you claim as your profession? Could you claim it as "Sales"?" If you get audited, could you just have printed out copies of your monthly statement of affiliate payments?

[/ QUOTE ]
Caveat: I'm not an expert or a lawyer. I'm posting this because you seem to want to pay your taxes and that is to be encouraged.

You're just someone running a small business. Put it on Schedule C. Doesn't have to be full-time as long as it's not a hobby, i.e. your primary reason for doing this needs to be making money. Can't imagine the IRS claiming that a marketing business is a hobby.

The fact that your customers are gamblers who are subject to stupid, special-case rules on their gambling income is irrelevant.

Your occupation is whatever you do most of the time to make money. If this is what you do, then you are a "businessman" or a "salesman". It's not a test--as long as you aren't trying to deceive anyone you won't get in trouble for any reasonable answer.