With millions of daily active users, Twitch is one of the most widely used live streaming services for gamers. You might need to submit taxes on your earnings if you are a Twitch streamer who has made money from the service. You will want a 1099 form from Twitch in order to do this. Do I Need to Include Twitch in My Tax Return? Yes, you must disclose your income on your taxes if you are a Twitch broadcaster who makes money from your broadcasts. This includes all earnings from Twitch, including sponsorship money, gifts, and ad revenue. It’s crucial to track your revenue throughout the year since you might be required to pay self-employment taxes on your earnings. How Can I Access T4 on Twitch?
T4 forms, which are only used in Canada, are used to report earnings from an employer. Twitch streamers do not receive T4 forms because they are regarded as independent contractors. Instead, they must fill out a T2125 form to declare their income from self-employment. Where Can I Purchase a 1099 Tax Form? By January 31st of the following year, Twitch will issue you a 1099 tax form if you made at least $600 in a calendar year through the service. You will receive this form at the address on file for your Twitch account, so be sure it is accurate. By the middle of February, if you still have not gotten your 1099 form, you can get help from Twitch support.
Yes, Twitch streamers in the UK are obligated to pay taxes on their earnings, with the exact amount depending on the streamer’s revenue, expenses, and other criteria. Keep track of your earnings and outgoings throughout the year, and seek advice from a tax expert if you are unsure how to file your taxes.
Finally, if you are a Twitch streamer who has made money from the service, you must file a tax return and request a 1099 tax form from Twitch. Keep track of your income all throughout the year, and if you need help, speak with a tax expert.