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Approximately 60 days
- KDP pays royalties monthly, approximately 60 days after the end of the month in which the royalties are earned. For example, that means payments for royalties earned in November and December 2018 won’t be on your 2018 form. Payments for royalties earned in November and December 2017 will be on your 2018 form.
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Tax forms show payments made, not royalties earned. KDP pays royalties monthly, approximately 60 days after the end of the month in which the royalties are earned. For example, that means payments for royalties earned in November and December 2018 won’t be on your 2018 form.
Royalty income is listed line 17 of Form 1040. According to the Internal Revenue Service, you must generally fill out and attach Schedule E to your 1040 to report royalty income. ----------------------------------. Except that what KDP pays isn't truly royalties, in the sense that the IRS uses the term.
Jan 15, 2024 · Amazon requires all self-published authors to complete the tax interview to sell through the US KDP store. For authors outside of the US, you’ll need to register for a US Tax Identification Number (TIN) using IRS form W-7. It can take up to seven weeks before your TIN is registered — 11 weeks during peak season.
- Jenn Gott
Oct 19, 2023 · Usually, Amazon won’t withhold any of your eBook’s earnings if you have a tax ID or Social Security number, so you’re personally responsible for paying what you owe to the IRS. The IRS considers writers to be small business owners, so you report earnings on Schedule C.
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Royalties are paid every month, approximately 60 days after the end of the month in which the sale was reported (90 days for Expanded Distribution) as long as you meet the minimum threshold for payment. Payment schedule. Timing for the delivery of funds to your account or mailing address varies based on payment method chosen: Direct deposits.
Mar 17, 2023 · US Tax Law requires that US-based companies like Amazon KDP, Smashwords, iTunes and Createspace, must withhold 30% of any non-US self-publisher’s royalties. Basically, if you are not an American and you just signed up for a KDP account, Amazon will automatically keep 30% of your earnings for tax reasons.
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