Author Topic: 1099 Adobe Tax question (Read 539 times)

elliottcowand · « **on:** January 24, 2025, 23:30 »

Adobe sent me a 1099 tax form for my 2024 earnings. Problem is, I had no payouts in 2024. I plan to not report these sales until after I'm paid. Thoughts?

Uncle Pete · « **Reply #1 on:** January 25, 2025, 12:32 »

Quote from: elliottcowand on January 24, 2025, 23:30

Adobe sent me a 1099 tax form for my 2024 earnings. Problem is, I had no payouts in 2024. I plan to not report these sales until after I'm paid. Thoughts?

Adobe reports EARNINGS not payments. Just pick what to report for your own taxes. I use actual payments. Keep a record of both, in case the IRS or whoever you pay, asks.

Accrual tax accounting is a method of accounting that reports income and expenses in the year they are earned and incurred, regardless of when payment is received or made. The purpose of this method is to match income and expenses in the correct year. Apparently Adobe work on the accrual tax accounting system.

Mine arrived in the mail yesterday, just making a note, they have been mailed.

sgoodwin4813 · « **Reply #2 on:** January 27, 2025, 21:07 »

I think Adobe is the only agency that reports earnings rather than payouts. Since that's what they reported to the IRS, that's what I put on my return. The good thing is that since you've already paid taxes on the earnings you don't pay any more when you take a payout. It's all the same amount just different timing.

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Author Topic: 1099 Adobe Tax question (Read 539 times)

elliottcowand

Uncle Pete

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