TikTok income is self-employment income. Calculate your total tax bill across all revenue streams.
TurboTax Self-Employed handles Schedule C, 1099-NEC, platform income, and every creator deduction automatically. Guaranteed max refund.
File with TurboTax Self-Employed →LIVE gifts are taxable: Virtual gifts from LIVE streams, once converted to Diamonds and cashed out, are ordinary income taxable at your marginal rate + SE tax.
Brand deals must be reported on 1099-NEC: Brands paying you $600+ must send a 1099-NEC. But you must report ALL income even without a 1099.
Phone deduction: Your phone is your primary production tool. You can deduct the business-use percentage of your phone and data plan (typically 50-80%).
TikTok Shop note: Commissions from TikTok Shop affiliate links are self-employment income. Track separately and deduct related ad spend.
FBA profit after Amazon fees & SE tax
Debt service coverage ratio with benchmarks
Assets minus liabilities = your real wealth
TurboTax vs H&R Block vs FreeTaxUSA comparison