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Topic: $600 in a year  (Read 6513 times)

hawkeye3210

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Re: $600 in a year
« Reply #30 on: March 04, 2018, 10:44:09 am »
If you make over $600 in a year you are suppose to report it. If I made more than $600 for my crochet shop I would have to report that. Although because I have a main job that I have taxes taken out it wouldn’t affect me as much.

The $600 figure is for companies that paid you and their requirement to issue you a 1099.  You are supposed to report all income regardless if you get a 1099, even if it is less than $600.

countrygirl12

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Re: $600 in a year
« Reply #31 on: March 04, 2018, 11:06:52 am »
If you make over $600 in a year you are suppose to report it. If I made more than $600 for my crochet shop I would have to report that. Although because I have a main job that I have taxes taken out it wouldn’t affect me as much.

The $600 figure is for companies that paid you and their requirement to issue you a 1099.  You are supposed to report all income regardless if you get a 1099, even if it is less than $600.

You do not have to report anything under $600.  If you want to report the $5 aunt Sally gives you for picking up her mail then more power to you. But the law states if it is under $600 you do not have to report it.

NRAJOE

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Re: $600 in a year
« Reply #32 on: March 04, 2018, 11:14:16 am »
If I don't get 1099'd I ain't reporting diddly..... :thumbsup:

baozun

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Re: $600 in a year
« Reply #33 on: March 04, 2018, 11:17:35 am »
"Sometimes I wonder if somebody found an envelope stuffed with cash and they decided to keep that if they would report it to the government as income lol"
LOL if you robbed a bank and got thousands of dollars in one day would you report that as income too? 

True story: my mom found a $50 bill on the sidewalk.  Picked it up.  Spent it on groceries the next day.
Another true story: my dad found a money clip with $150 dollars in it on the sidewalk.  He said that some drunk person must have dropped it on Saturday night, and that's why it was on the sidewalk Sunday morning.  Paid two utility bills with that windfall.
The most money I ever found on the ground was only $1.00!

Let's say you found a wallet or a gold ring with a value of more than $600.  Do you tell the government about it? "The sidewalk gave it to me"?  Is it subject to the gift tax?  ;)

cathy37

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Re: $600 in a year
« Reply #34 on: March 04, 2018, 01:37:04 pm »
It is all I can do to get $30 in three months.  It has become more difficult to cash out since they no longer have the search bar.  I could always get my 5 cents per day so I could do the paid to click when they had the search bar.

lguzman1

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Re: $600 in a year
« Reply #35 on: March 04, 2018, 01:47:05 pm »
I don't worry about that either. I don't make that much.

mapiklfish

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Re: $600 in a year
« Reply #36 on: March 04, 2018, 02:48:46 pm »
I don't make anywhere near that much at any one site to have to worry about it. 

mrsmere

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Re: $600 in a year
« Reply #37 on: March 04, 2018, 03:48:51 pm »
I have not made that much on this site.  One month I made $70 but most of the time it's around $30 or $35.

mrisha

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Re: $600 in a year
« Reply #38 on: March 04, 2018, 03:52:02 pm »
It would be nice to cash out every month.  Probably could if I was paid for all the surveys I completed.  No $600.
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madeara

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Re: $600 in a year
« Reply #39 on: March 04, 2018, 03:52:25 pm »
I never make that much.
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hawkeye3210

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Re: $600 in a year
« Reply #40 on: March 04, 2018, 04:56:27 pm »
If you make over $600 in a year you are suppose to report it. If I made more than $600 for my crochet shop I would have to report that. Although because I have a main job that I have taxes taken out it wouldn’t affect me as much.

The $600 figure is for companies that paid you and their requirement to issue you a 1099.  You are supposed to report all income regardless if you get a 1099, even if it is less than $600.

You do not have to report anything under $600.  If you want to report the $5 aunt Sally gives you for picking up her mail then more power to you. But the law states if it is under $600 you do not have to report it.

That's not what the law states. The $600 limit is for individuals/businesses that have to issue 1099's to persons that they have paid during the year. This has nothing to do with your personal reporting requirements.

From the IRS:
"It is a common misconception that if a taxpayer does not receive a Form 1099-MISC or if the income is under $600 per payer, the income is not taxable. There is no minimum amount that a taxpayer may exclude from gross income."

https://www.irs.gov/newsroom/reporting-miscellaneous-income

mardukblood2009

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Re: $600 in a year
« Reply #41 on: March 04, 2018, 05:03:16 pm »
I don't think it is possible to make 1.64 a day on here. I think I only ever made that much a day probably about 20 times on here. :-X

dsosnowski06

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Re: $600 in a year
« Reply #42 on: March 04, 2018, 05:06:04 pm »
Made over $600 last year and the year before on this site and received a 1099 for both years.  It came out to  be about $85 taxes that I had to pay.  This is the only site I did that well on

heypeg

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Re: $600 in a year
« Reply #43 on: March 04, 2018, 05:08:04 pm »
I have been doing this for six years and never made that in a year. No worries.

Cbsteffen

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Re: $600 in a year
« Reply #44 on: March 04, 2018, 05:52:29 pm »
Keep trying harder. There are always video offers. Don’t waste time taking several surveys when you don’t always have a chance of earning a decent amount of money from them. Surveys are the last things I consider trying for making money online nowadays!
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