Author Topic: Tax Questions (Dreamstime and Dissolve) (Read 5253 times)

JohnTravolski · « **on:** February 12, 2021, 01:47 »

I have a few questions regarding taxes with Dreamstime and Dissolve.

I made some sales on Dreamstime in 2020 but never reached the payout threshold (only made $90). I have not received any tax form and don't see anything in my account. Will they only send you a 1099 if they actually pay out to you in a given year?

I made around $100 on Dissolve in 2020, which they paid out to me. Never got a tax form and I don't see one digitally. Emailed them but haven't heard back yet. Will they send me a 1099-MISC? Or do they only send one if I earn more than $600?

cascoly · « **Reply #1 on:** February 12, 2021, 16:52 »

you're correct that no 1099 is sent unless earnings are over $600

for earnings not paid out, it depends on your accounting method

if you're using the cash method, you report earnings when rec'd

JohnTravolski · « **Reply #2 on:** February 13, 2021, 20:20 »

The stock agencies have no idea which accounting method I use. That has nothing to do with whether or not they send a 1099.

cascoly · « **Reply #3 on:** February 14, 2021, 16:18 »

Quote from: JohnTravolski on February 13, 2021, 20:20

The stock agencies have no idea which accounting method I use. That has nothing to do with whether or not they send a 1099.

right 2 separate questions - whether an agency has to send a 1099 and how you report.

sgoodwin4813 · « **Reply #4 on:** February 17, 2021, 20:36 »

My impression is that most agencies (except for Fotolia/Adobe) only report the money to the IRS when they pay you, so if you didn't get a payout from DT then you have no taxable income and they aren't required to send you a 1099.

In the case of DT I think they only provide the 1099 if they paid you more than $600 in a year, when it becomes required by the IRS, so you wouldn't have received one from them even if they did pay you (I never do).

I always report all the money I was paid regardless of whether the agency sends the correct tax form. This excludes money that was earned but not paid out. The exception is Fotolia/Adobe who will send you the tax form on what you earned even if you haven't received it in a payout, so that needs to be included.