Twitch 1099-MISC does not equal what I earned from payouts

Forum|Forum|1 year ago
April 16, 2024
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Hi! I recently filed my taxes but I'm wondering if I have to amend them for one specific area. I received a 1099-MISC from Twitch, but it did not equal the amount of money I received for the year of 2023 in payouts. I ended up reporting what I made from those payouts in addition to what was on the 1099-MISC. I'm realizing now that that might have been an error. I tried reaching out to Twitch but they were no help. Any advice?

DawnC

Employee

If you entered all of your income - which would be the amounts on your 1099-misc forms, and any other income related to your business not reported on a tax form, you did not underreport your income. As long as you don't think you duplicated any income, you should be fine. If you duplicated amounts, you overreported your income and would need to amend.

It is common to have income entered from various sources, multiple 1099s, and other cash/crypto payments. Twitch is not going to know about your total business income, only what they remitted to you. If you had to pay fees from the amount they remitted to you, those would be tax deductions you could take on your Schedule C.

You can start the amendment process to adjust your income and expenses and if it results in a change, file the amendment. If it doesn't change your refund or tax due amount, don't file it. Follow the instructions here to amend your tax return.

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