Have a Tax Question? Ask a Tax Expert
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.
Good evening. The best way to report this would be report this on Schedule C to your Form 1040. On Schedule C, you would include all the revenue and then reduce that by the 75% paid to the artists. The result would then be that the 25% net that you retain would be carried over to the first page of your Form 1040.
Thank you somuch for allowing me to help you with your questions. I've done my best to provide information whichwill be helpful to you. If I have notfully addressed your questions or if you have any follow up questions, or if Ihave misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating soI can provide you with a fully satisfactory answer. If I have fully answered yourquestion(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time toprovide me a positive rating!
I see that you have given me a bad rating. Ipride myself on providing full and complete information so I can fully satisfymy customers. If I have misinterpreted your question in any way or not fullyresponded, I ask that you please give me an opportunity to address any of thosematters until you are fully satisfied. Otherwise, I would appreciate youreconsidering your rating to change it to a 3, 4, or 5 so I can get credit forhelping you today. Thank you in advance for that consideration!