USA Gifts to Social Media Influencers


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If I gift my product to social media influencers would I provide them a 1099-NEC for the cost or the FMV of the items gifted? If the 1099-NEC is to be at the FMV how would I record that?
 
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kirby

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If it is truly a gift, then you do not file a 1099. If the gift is over $15,000 then you file a gift tax return. And if you need someone else to send a gift to, I am available. :p
 
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It would qualify as more of a bartering transaction. Free merchandise is being provided with the expectation that the influencer will market the product on their various social media platforms.
 

kirby

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Oh, sorry I gave you the wrong info. I thought for some reason this was about a gift. Hey, wait a minute. That’s what YOU told me! :p
Anyway, read this.
 
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The only thing worse than BEING an influencer is BELIEVING one.

Further, do not EVER use the term EXPERT when referring to yourself. That is for others to determine.
 
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