Amazon vine tax support

Any company compensating you $600 or more will send you a form - every year. This year, it may have been a hobby or maybe this is part of how you make your living -part of your business. Influencers will file a Sch C for their business.

 Let's take a look at  Earning side income: Is it a hobby or a business? which lists 9 factors after stating that a hobby is for recreation, not for profit:

• Whether the activity is carried out in a businesslike manner and the taxpayer maintains complete and accurate books and records.
• Whether the time and effort the taxpayer puts into the activity show they intend to make it profitable.
• Whether they depend on income from the activity for their livelihood.
• Whether any losses are due to circumstances beyond the taxpayer's control or are normal for the startup phase of their type of business.
• Whether they change methods of operation to improve profitability.
• Whether the taxpayer and their advisors have the knowledge needed to carry out the activity as a successful business.
• Whether the taxpayer was successful in making a profit in similar activities in the past.
• Whether the activity makes a profit in some years and how much profit it makes.
• Whether the taxpayers can expect to make a future profit from the appreciation of the assets used in the activity.

The IRS has many resources to help taxpayers report their income correctly. See the more information section below for additional guidance.  

If this is business income, see Where do I enter Schedule C?

If this is for a hobby, follow these steps:

1. Log in to your return.
2. Go to income
3. Scroll down to Other Common Income
4. Select Income from 1099-MISC
5. Edit/ Start/ Revisit
6. Enter income -the income should be in box 3,
7. Enter tax if any withheld in box 4
8. Continue
9. Describe the reason -
10. continue
11. None of these apply
12. Continue
13. Did this involve main job?
14. No 
15. Continue
16. How often do you get?
17. Got in 2024 
18. Continue
19. Intent to earn money?
20. No
21. Continue
22. Do you have another?
23. No
24. Continue

More Information:

Publication 17, Your Federal Income Tax

Publication 525, Taxable and Nontaxable Income

Publication 535, Business Expenses

Publication 334, Tax Guide for Small Business, For Individuals Who Use Schedule C