Thursday, March 7, 2019

Several questions on beermoney and taxes.

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I have read several interesting threads in this subreddit about beermoney and taxes, but I still very confused.

On one old thread I found, it states that: For the US... -- The IRS requires you to file taxes if you make $400 or more in self employment in a year (or if you fall into one of various other categories). -- The IRS requires employers to report that they paid you, if they paid you $600 or more in a year.

Are those still true today, or there has been a change? It did not mention of reporting any type of earnings regardless of income. Where do I find that in the 2018 Tax booklet?

The first time I started earning from surveys was back in 2017 where I earned $110 in gift cards which is other income from several sites/apps, but I did not report it since the earnings are too low. In 2018, I had earned $336 in gift cards (+$5.64 in donations) which is other income from several survey sites/apps. Only one website which is Tellwut I had earned over $100 but it never gave me any tax sheet to report on. The good news is that I don't have to file taxes, and I do not know if I have to report it or not. All I know is a Form-1099 Misc sheet but are there any other sheets must I go along with? And what about state tax since I live in California? Must I report that as well and if so what form do I use?

But then if you earned less than $400 in self-income (reported as other income) from either or all sources, must I report it, since I don't have to file taxes? Also someone said that you have to report any self-income and/or other income quarterly using a Form-1099 Misc regardless of earnings even if it's $1? I thought it was done annually. Is the Form-1099 Misc is to be used annually, quarterly or both?

If I am to report my earnings (even if it's less than $400 in other income from all sources and not just one site or app), the one other thing is that I live dependently with my parents and I am still unemployed.



Submitted March 07, 2019 at 02:24AM by Zocom7 https://ift.tt/2H6IHew

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