How do you claim income from a internet business on your taxes?
If money is earned and your not employed nor have you given your ss#. How could you be expected to claim the income? is income to a paypal account reported to the irs?
Add it up, put on schedule C as gross receipts, deduct any expenses and pay your SE taxes
As of now paypal income is not reported to the IRS bu tthat may change in the near future. However, if you have a paypal savings account any interest earned on it is fully taxable just like any other financial institution and it will be reported to the IRS.
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