Tax return with Ad revenue, Support Program and Patreon

fanyart 2016-02-17 15:21:29 UTC #1

Hi guys!

I'm sure I am not the only one who has to file a tax return this March yet again. It's my first year having to report earnings from Ad revenue, Support Program and Patreon, though, and I have no idea how to do it, since the internet is filled with all kinds of rumors about not having to report Patreon and SP donations since it's not considered "earnings" in the USA, and such.

Does anybody knows what the reality is? Are Patreon and Support Program really considered different from earnings?
Do Patreon and Tapastic withhold part of the earnings?
Or can I just report it altogether as gross income and deduct the tax afterwards?

Please note that I am from the Czech Republic so some things don't apply to me (like, we have to treat "gifts" as earnings and such).

Thanks a lot!

Pandastrophic 2016-02-17 17:01:36 UTC #2

I'm actually wondering about this as well, it's sort of hard to find info about these things since I'm not from the US.
I'm from Dubai where we don't have tax so does any of this apply to me?

jonufele 2016-02-17 18:05:14 UTC #3

This post was flagged by the community and is temporarily hidden.

michaelson 2016-02-17 19:43:06 UTC #4

Hi there!

We (Tapastic) report earnings of $600 or more from the Ad Revenue program. If you earned $600 or more from the Ad Revenue program, then you will have received an e-mail requesting a W9 form.

I'm not familiar with requirements for the Czech Republic - but you should have access to a history of your transactions on Tapastic.

fanyart 2016-02-23 19:02:11 UTC #5

@michaelson Thanks, I see that none of this applies to me ^^;
In the Czech Republic we basically have to report everything, which is a pain Dx

...oh, this made me realize that I'm in for big trouble because my parents are going to find out the "truth" now (because dad's helping me file the taxes) - they somehow gained the impression that "I draw comics for a Korean company and am living a safe student's life with payments from Koreans" XD and I never got the courage to explain that it's actually just voluntary support from readers and that it's based on pure luck how much one gets... I guess I'm going to get some "it doesn't even pay your dorms rent, let alone the tuition fee, quit daydreaming!" Oh well, time to brace myself for it TT_TT