Does anyone else's WMR still say processing? Filed 2/1 and nothing has changed smh

pro tip: check your transcript instead of WMR. WMR is always behind

This is such a helpful thread! I'm in a similar situation with my growing Instagram account and had no idea about the tax implications. After reading everyone's experiences, I'm definitely going to start tracking all PR packages I receive with their retail values. Quick question though - for those who've been through audits or dealt with the IRS on this, how detailed do the records need to be? Should I be taking photos of everything I receive, keeping the original packaging, or is just a spreadsheet with dates and estimated values enough? I want to make sure I'm documenting everything properly from the start. Also, does anyone know if there's a minimum threshold? Like if a brand sends me a $5 lip balm, do I really need to report that too or is there some kind of de minimis rule for small items?

This is exactly the kind of confusion that trips up so many new influencers! The key thing to understand is that the IRS looks at the intent behind why you received the items, not whether there's a formal agreement. Even those "hope you enjoy" packages are sent because you have influence and a following - that's why they found you in the first place. I'd recommend starting a simple spreadsheet right now to track everything: date received, brand, products, retail value. Don't stress about small items under $25, but definitely track anything substantial. The $300 beauty box you mentioned absolutely needs to be reported as miscellaneous income. One helpful tip: if you do end up featuring any of these products in your content later, you may be able to deduct them as business expenses, which can offset some of the tax burden. But you'll need good records to support both the income reporting and any potential deductions. Better to be safe and report everything than deal with an audit later - the penalties and interest can be brutal!

Anyone know if there's a difference in how this tax code works in Scotland? I'm moving to Edinburgh next month but my job contract mentions 1242L.

This is really helpful - I'm in a similar situation as the original poster! I just want to add that it's worth checking if your employer offers any salary sacrifice schemes (like cycle to work, pension contributions, or childcare vouchers) as these can actually reduce your taxable income and potentially save you money. With the 1242L code, any salary sacrifice contributions get deducted before tax is calculated, which means you pay less income tax and National Insurance. For example, if you sacrifice £100 per month for pension contributions, that's £100 less of your salary that gets taxed. It's definitely worth asking HR about these options when you start your new job, as they can make a real difference to your take-home pay beyond just understanding your tax code.

Has anyone tried creating an informal entity like "Smith Family Rentals" and using that on the platform instead? Our accountant suggested that approach for our vacation rental, and the platform accepted it even though it's not an actual legal entity. Then we just split everything 50/50 on our individual returns with explanation statements.

I'm dealing with almost the exact same situation! My spouse and I co-own a rental property that we inherited, and we've been getting conflicting advice about whether we need to form a partnership or can just handle it as co-owners. From what I've researched, the IRS Publication 541 specifically addresses this. It states that "a joint undertaking merely to share expenses does not create a partnership." Since you're just collecting rent and sharing expenses (not providing substantial services like property management beyond basic maintenance), you should qualify for simple co-ownership treatment. The approach that @MoonlightSonata described sounds solid - having one person report the full 1099-K income then deducting the co-owner's share as an expense. This way the numbers match exactly what the IRS receives from the platform, but each owner only pays tax on their actual share. One thing to consider: make sure you keep detailed records of how expenses are split and document your ownership agreement somewhere (even if it's just an informal written agreement between you and your sister). This will be helpful if the IRS ever has questions about the arrangement. Have you considered asking the rental platform if they can at least put both names on the account, even if the 1099-K can only go to one person? That might help establish the co-ownership paper trail.

Did you file married filing jointly? Sometimes if you're the secondary person on the return it goes to the primary person's account only.

I'm going through the exact same thing with Commerce Bank! My transcript shows refund sent on May 8th and still nothing in my account. Called Commerce twice and they keep saying no pending deposits, but based on what everyone's saying here it sounds like we just need to wait a few more business days. The timing with weekends really throws everything off. I'm trying not to panic but when you're counting on that money it's so stressful. Let me know if yours shows up - I'll do the same!