Hello! I am 18 years old and a broke college student! I have a part time job but obviously cost of living has gone up and retail doesn’t help with everything! I have a lot of old stuff I want to sell on depop, which I am aware of if I make a certain amount I have to report. I have also recently thought about selling feet pictures and I wasn’t sure if I can combine both of these as just income from “self employment“ and not have to clarify one is from selling clothes and one is selling feet pics 😭 I have never had to file taxes as My parents told me I never made enough in one year from the jobs I had to have to do all that and I believe I am under my parents? I am very uneducated and any help is very very appreciate!!!!!
When I do taxes, can I combine the income I would make from selling clothes on depop and the income I would make if I decided to sell feet pics?
byu/OtherwiseAdvance7594 intax
Posted by OtherwiseAdvance7594
3 Comments
Self-employment income is self-employment income. Report it all together on Schedule 1.
All income must be reported, not just “above a certain amount.”
You don’t have to report until you sell. The threshold is $600. If your over that depop will send you a 1099. As for the feet pics if your doing it in a platform, that platform will send another 1099. You get one from each company you have sales from if that makes sense. Now you are a self employed individual, and you can claim expenses related to your business ventures on schedule c. I have been doing my own taxes since I was 18, and online software is very easy to follow along with. The only real problem is the parent situation and whether they know about your business ventures. If they claim you as a dependent because they pay more than half of your expenses, they would file the tax return and report your dependent income. So u would start by asking them if they are claiming you and if they are you should mention you will have 1099 income.
you can combine both as self-employment income. just keep clear records for tax purposes. consider getting some tax software to simplify it.