Tax Implications When NCAA Student Athletes Make Money

This is the first academic year that NCAA student-athletes have been able to earn money for their accomplishments and popularity. The governing body created “name, image and likeness” guidelines in July 2021 from which participants can profit in various ways.

• SEE MORE Tax Changes and Key Amounts for the 2022 Tax Year

This April, there was another first-time occurrence for student-athletes with NIL deals: paying taxes. Filings were due April 18, which required many student athletes to submit IRS forms for the first time in their lives, while others experienced a different aspect of the process.

Here are some