Tuesday, August 17, 2010

Survey sites? Anybody know if you have to pay taxes for money you receive?

I'm sure you do, I just wonder how people go about it..

Survey sites? Anybody know if you have to pay taxes for money you receive?
IRS says to claim all earnings. On a 1040, under other income. If you file long form though, you can deduct costs as well even to the extent it is part of a home based business. At that point you can deduct a portion of household expences as well. Second Part of your question: I highly doubt anyone claims them but you never know.
Reply:Gifts are exempt from taxes if you are the receiver. The exemption applies up to $12,000k.
Reply:Yes, it's taxable income. Normally it goes on line 21 of Form 1040, Other Income.
Reply:Yes, you'd file a schedule C or more likely C-EZ, and a schedule SE, along with form 1040.


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