toby10;473116 Wrote: > I'd guess the IRS $600 rule would apply, no? > Gifts, monies, etc... valued under $600 need not be declared by the > recipient nor does the giver need to notify the IRS via 1099. > Unless they changed that or I don't understand it (which is quite > possible). :(
The $600 rule is for payers to report payments to the IRS. Recipients are taxable on any amounts received (in cash or property) for services, they just receive no report on amounts below $600 from any one payer. -- Goodsounds ------------------------------------------------------------------------ Goodsounds's Profile: http://forums.slimdevices.com/member.php?userid=14201 View this thread: http://forums.slimdevices.com/showthread.php?t=69819 _______________________________________________ discuss mailing list discuss@lists.slimdevices.com http://lists.slimdevices.com/mailman/listinfo/discuss
