I won more than $600 playing Inbox Dollars Games now what?
By killove
@killove (86)
United States
November 18, 2008 7:24pm CST
Help!!!! I won $601 on inbox dollars this year., now they are making me fill out a form for the IRS!. Thats some bull!!! Give me some idea on how not to have to pay taxes on this money. I don't think I should have to. I mean I paid taxes on the money before I deposited it.
2 responses
@neededhope (1085)
• United States
19 Nov 08
What do you mean that you "paid taxes on the money before I deposited it" if you are saying you earned it from making purchases thru them? Normally $600 you dont' have to claim but since your over you will have to claim them. What you do is fill out the form and at the end of the year claim it on your taxes and pay the tax for it than. That's what i would do. Your best bet may be to ask an accountant but it may cost you more in the long run than just to pay the taxes for it.
1 person likes this
@killove (86)
• United States
19 Nov 08
I was reading up on tax law yesterday. It was saying that I can claim up to the amount I won if I have equal losses (which I do). So I won $600, but overall I've used $1300 total. It also suggest saving non winning lotto tickets. I know a few people that play, hopefully I can cancel it out.
@killove (86)
• United States
22 Nov 08
"paid taxes on the money before I deposited it". when I first started playing the games, I had to deposit money from my checking account which Uncle sam already got his piece and so did State, FICA, and all the rest of those people I don't know. $599.99 is the last amount where you won't have to pay taxes in the US.
@mindym (978)
• United States
19 Nov 08
That does stink because I think you only have to claim it if you make $600 or more. So, one dollar over is a bummer. That's just how the tax system works. They have to start somewhere...not that I am disagreeing with your frustration. However, don't be mad with Inbox Dollars. They are just following the rules. I have been a member with them for quite some time and have been happy with them. But I haven't won $600...
