[epub] Paying tax on subscription income

[Elena Fawkner <elena@xxxxxxxxx>]

Ravi Jayagopal wrote:

>Now, when it comes to reporting to the IRS, Paypal or ClickBank
>(or most such companies) do not report your earnings by themselves.
>However, Paypal does report your "interest" income if you invest
>in their money market account, and that too only if your
>interest-income is more than $10 in that financial year.

Actually, if you're a U.S. resident, Clickbank will send you (with a
copy to the IRS) a 1099-MISC at the end of the year so you do
need to report this income on your tax return.  They'll only ask
you for your SSN and send you the 1099-MISC if your sales exceed
(I think) $400 (or something like that) though.

Elena Fawkner
A Home-Based Business Online
http://www.ahbbo.com



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