Taxes

[jenajolley]

Hey everyone!

Does anyone know if FusionCash takes out taxes or how/if we file for them with our payments from the site?

Thanks!

[Nancy5]

No they do not take out taxes. If you cash out $28.99 you will get $28.99.  If you make more than $600.00 a year on this site, you must then claim it on your taxes,.  Hope this helps.

[ladavia89]

Once/if you reach $600 received for the year you'll have to verify your identity and you'll be sent a 1099 for your taxes

Of course you should still claim all income you receive even if you don't get a tax form from here.

[Shaquaysha2210]

I'm not sure if they take out taxes try to click the help me on your account and they will tell you

[cwillard1]

I am not at that point yet.......

[heypeg]

I've never had that problem.

[southernhorizons]

For those who do get over $600, and receive a 1099, where does it go on your tax return? Do you have to fill out a Schedule C also?

[berthabutt]

FusionCash does NOT take out taxes on us members, as we are not employees of FC.  I guess we are independent contractors?   If you are lucky enough to make $600 or more in a calender year FC will send you a 1099 form.  Otherwise don't worry about it.

[Getinonthis]

You are entitled to a W2 if you receive or make more than $600 for the year.