Skip to main content
CoryHarrill
CoryHarrill
Participating Frequently
January 27, 2019
Question

Paying Taxes on My adobe stock content

  • January 27, 2019
  • 2 replies
  • 5777 views

I'm trying to find out if I HAVE to pa taxes on the few images that were sold on Adobe Stock or not.  I haven't even received the money because I'm still under the $50 benchmark to be able to retrieve it from Adobe. I received a 1099 form from fotilia and don't know if I can ignore it because I haven't actually received any money from Adobe yet OR if I have to pay taxes on money i have not actually received yet lol. 

Thank for answer my stupid question in advance.

2 replies

juliar2563253
juliar2563253
Participating Frequently
January 28, 2019

I have the same question. I was sent a 1099 for income that I didn't receive because it is under the threshold. This makes no sense to me — this was not available to me as income in 2018 yet it has been reported to the IRS as 2018 income.  I certainly don't want it reported as income AGAIN in 2019. Plus I uploaded the proper paperwork indicating I don't need withholding yet they withheld tax money anyway. I'm afraid I don't have great confidence here and I have been unable to find anything online stating how the policy works. Can someone please post a link to Adobe income reporting policy so we can all be clear on how this is supposed to work? Thanks, Julie

    CoryHarrill
    CoryHarrillAuthor
    Participating Frequently
    January 28, 2019

    Yeah me too.. I'm not sure where to find that policy info and if I do find it I will definitely post it here.

      CoryHarrill
      CoryHarrillAuthor
      Participating Frequently
      January 29, 2019
      CoryHarrill  wrote
      YOU Have my money Adobe YOU PAY THE TAXES ON THE MONEY YOU ARE HOLDING ON TO!!

      Hey, payout threshold is 25$. I do not know what you are paying for taxes but for less than 25$ and depreciating what you have as camera/computer gear will give you an effective gain... :-)


      Abambo, I'm not attacking you personally on this. I see that this conversation probably isn't going to go anywhere. I just want to state facts from the point of view of a contributor who has not hit threshold level and someone who would like to make it fair as possible to us as contributors.

      its the point in fact that i am paying tax money on money i haven't actually received, sure .. you are right that with the expenses of things I have probably will put me at a level where i don't have to pay anything. BUT its the business practice that i have an issue with. I nor anyone else should have to pay taxes on ANY amount of money that a company is withholding until it is provided to their bank account.

      And, as an example, if Adobe has 10000 contributors all having to pay taxes for $24 dollars they have not received in their bank accounts that added up to $240000 dollars of profit that contributors have not received a dime for AND are paying taxes on that profit that Adobe still has in THEIR bank!. That is something every contributor should think about.. class action suit isn't about me, its about the contributors to adobe. I would hope I am wrong in my thoughts on this but something just feels fishy.

      Easy fix adobe would be to hand out the money each contributor has mad at the end of the year If they haven't already pulled it to their bank accounts.

      Abambo
      Community Expert
      AbamboCommunity Expert
      Community Expert
      January 27, 2019

      The benchmark is now 25€, and yes, you need to pay taxes. The only question is when... As you probably do not a great accounting, as most of us, you will not declare accounts recievable as revenue but declare the revenue when it is due for payout.

      In any case, however, please note that nobody here does tax advises so this is my own unqualified thought. For all cases ask your tax advisor.

      ABAMBO | Hard- and Software Engineer | Photographer
      CoryHarrill
      CoryHarrillAuthor
      Participating Frequently
      January 28, 2019

      I'm not looking for tax advice I'm looking for how your business works with these pieces. I wanted to simply understand if since I cannot pull the money out yet since I have under $25 is that money really considered "mine" since I can't actually get it? Someone on your team should have the knowledge about this because i guarantee my accountant will have questions on that slippery detail.

      Abambo
      Community Expert
      AbamboCommunity Expert
      Community Expert
      January 28, 2019

      Sorry about the confusion, but my team is consisted of me alone. I'm a user as you. Adobe won't give your advice on this topic.

      I do consider revenues when revenues arrive on my account. I think you should do the same.

      ABAMBO | Hard- and Software Engineer | Photographer
        Terms & ConditionsAccessibility statement
        Using the community Terms of use Privacy Cookie preferences Do not sell or share my personal information ad choicesAdChoices