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Social Media Income

Forum|Forum|5 years ago
March 8, 2021
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How do I claim social media influencer income for my son when half is in USD and half CDN? Is it self employed or just listed under other income? He also has expenses but amounts are small.

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Best answer by MinhT1

Social influencer income is self-employed income. If your son did not receive form 1099-NEC, he still have to report this income.

CDN are converted in USD using exchange rates published in this IRS document.

He reports the income you received in cash, checks or bank transfers or without a 1099-NEC as self-employed income under Other self-employed income.

In business income, just under Type of Income, click on Add Income for this work
On the next page, click on the radio button next to Other Self-employed Income
Click Continue to enter your income received in cash, checks or bank transfers.

M

MinhT1Answer

Social influencer income is self-employed income. If your son did not receive form 1099-NEC, he still have to report this income.

CDN are converted in USD using exchange rates published in this IRS document.

He reports the income you received in cash, checks or bank transfers or without a 1099-NEC as self-employed income under Other self-employed income.

In business income, just under Type of Income, click on Add Income for this work
On the next page, click on the radio button next to Other Self-employed Income
Click Continue to enter your income received in cash, checks or bank transfers.

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