uncle sam

[ranger14892]

i am curious as how we will be taxed for this. im not believing that when i earn 25$ and i cash out, that i get 25$ in the mail. someone better convince me otherwise...

[tantricia44]

i am curious as how we will be taxed for this. im not believing that when i earn 25$ and i cash out, that i get 25$ in the mail. someone better convince me otherwise...

I don't think we're getting taxed on this. It's not like a regular pay check that uncle sam takes out on payday once a month.I don't think we get paid enough to be taxed.  I think we do get charged a small processing fee out of it to get our pay check processed to us when we cash out.  I'm not a business person or banker so don't quote me on this. If you're really curious maybe you should ask Support from FC staff. 

[TJeany]

Anybody know if you need to report earnings from the internet if you make a certain amount. I mean what is the law about monies earned that have to be reported. Thanks to anyone that can answer this. Tonya.

[bhm42004]

I heard that if you make over $400 in the year, then the site will send you a tax form that you will use to file with your taxes. I have as of yet to earn that much from any site but a friend of mine did last year. Maybe kohler or admin would be best to answer this question about fusioncash.

[sarabtrayior]

FusionCash will send you a form, and I hope one day they will send me one too!

[atvgirl1]

anytime you make over $600 from one source you have to claim it on your taxes.  If you have made enough money they will send you a 1099 and then you have to claim it as income.  Someday I hope to be lucky enough to make that much money to have to claim it.  Thanks fusion Cash

[animikokala]

I heard that if you make over $400 in the year, then the site will send you a tax form that you will use to file with your taxes. I have as of yet to earn that much from any site but a friend of mine did last year. Maybe kohler or admin would be best to answer this question about fusioncash.

I believe that $400 is the amount you need to make in a year before FC sends you the tax form.  

Edit:  According to the IRS report I read, you are required to file for taxes after earning $400 if you are earning "self-employed" income.  Sites like Amazon MechTurk, FC, and other PTC/survey/etc.. all count as "self-employed".

http://www.irs.gov/pub/irs-pdf/i1040.pdf
(page 9, Chart C, #3)

[workmama]

I heard that if you make over $400 in the year, then the site will send you a tax form that you will use to file with your taxes. I have as of yet to earn that much from any site but a friend of mine did last year. Maybe kohler or admin would be best to answer this question about fusioncash.

I believe that $400 is the amount you need to make in a year before FC sends you the tax form.  

Edit:  According to the IRS report I read, you are required to file for taxes after earning $400 if you are earning "self-employed" income.  Sites like Amazon MechTurk, FC, and other PTC/survey/etc.. all count as "self-employed".

http://www.irs.gov/pub/irs-pdf/i1040.pdf
(page 9, Chart C, #3)



Thank you for that very helpful information!