taxes

[johnvon23]

Hi everybody!
I have a question.... say you make alot of money for this year on fc will u do 1099 or what for the taxes? thanks

[patti4me]

I don't think it will add up to enough to worry about it but I don't know what the requirements would be.  I doubt if FC sends out 1099 but I've only been on this site since Feb. so I'm not sure.

[swogden]

If you receive $600 or more in a calendar year, FC must send you and the IRS a 1099 showing your earnings.   When your cash out request will take you over 599.99, FC will ask you for your Tax ID (SS number) before they approve the cash out.   

Less than $600 in receipts, no 1099 will be issued.  (But that doesn't preclude you from reporting it.)

[ripagert]

Is that $600 for the whole year or just in 1 check?  I thought you had to make like a few grand before you had to declare it legally on ur taxes.  I guess that is no the case.  Thanx for the info.

[southernhorizons]

I think you are supposed to report all income received, but FC doesn't have to send a 1099 form unless you make over 600 a year.