harley_girl1963
01-03-2008 22:14:49
Has anyone received a tax form from TRAINN? I'm still waiting and wondering if they sent them out to anyone else.
ricopet
04-03-2008 14:52:32
I was also wondering the same question. We're getting our tax stuff together and I'm not sure what to do if I don't have one yet.
JKirk
04-03-2008 15:02:32
Keep in mind, they do it site by site. Meaning, if you do more than $599 on a single site, then that's the only reason you would be getting a 1099.
TravMan162
04-03-2008 19:43:13
[quoteb9ef17dbb8="JKirk"]Keep in mind, they do it site by site. Meaning, if you do more than $599 on a single site, then that's the only reason you would be getting a 1099.[/quoteb9ef17dbb8]
i could be wrong, and I'm sorry if i am, but i believe it's $599 per transaction isn't it? like if you do one of those repeatable sites and cash in $599 several times, you won't need a 1099 will you?
zr2152
05-03-2008 06:03:14
well at least it should be. Freebie income should be claimed anyways cause if you get audited and they see all those paypal transactions...you are screwed.
dmorris68
05-03-2008 07:05:33
[quote51ec3c393c="TravMan162"][quote51ec3c393c="JKirk"]Keep in mind, they do it site by site. Meaning, if you do more than $599 on a single site, then that's the only reason you would be getting a 1099.[/quote51ec3c393c]
i could be wrong, and I'm sorry if i am, but i believe it's $599 per transaction isn't it? like if you do one of those repeatable sites and cash in $599 several times, you won't need a 1099 will you?[/quote51ec3c393c]
No, as CG said, it's $599 cumulative per "business." Some freebie networks have their different sites setup as separate business entities, which lets them get away with it being "per site" even though it's from the same parent company. I've always questioned that myself, but the fact is almost every freebie network does it that way. I'll assume at least some of these legit networks have consulted accountants/attorneys on it and have been cleared, so I'll defer to their position, although it still sounds iffy to me.
I-Deal would be an example of a parent company who DOESN'T break it down by site. You get a single 1099-MISC from I-Deal that contains all payouts across all sites. Which is how I would have expected it to work.
Bottom line (once again) is that technically it shouldn't matter to you, because the law says we have to claim everything regardless of amount or 1099.