1099s

[rwdeese]

Does FC give 1099s for payouts?

[Gwen1993]

I was wondering that myself...

[Valerie1979]

I think you have to make more than $600/year before you would need a 1099 to report it as income for tax purposes.

[mc1962]

I think the $600.00 per year rule applies here - but you might ask oldbuddy or one of the other big earners here or Kohler or the Admin............I still am not quite that much of an earner her YET. 

[ancmetro]

       I will try to make under $600.00...so I do not have to pay taxes on it.

[mangomiata]

I have been investigating that same issue and have found mixed responses.  It seems that FC does not have to send a 1099 if your earnings are below $600 but, by law, you are required to expose ANY income that you have received regardless of forms submitted.

I dont' know what to do.  I am going to talk with a professional.  I don't want the IRS knocking at my door.

Sandy

[girlswin2]

You for sure have to report it if you make over the $600.00 mark but it is good to go ahead and report it anyway.  It want amount to that much so its better to be safe than sorry later.  Let us know if you find out more on this though knowing more about it is better for us all.   

[missijl]

If you earn over $600 on here, FC will ask for your information so they can send you the correct paperwork.

[mangomiata]

Thank you everyone for all the great information.  Yes, the income has to be over $600 to claim it as such.

Sandy