Online earnings and taxes
By Jaluke
@Jaluke (676)
United States
May 22, 2010 9:10pm CST
I have a legitimate question that I'm unsure of the answer to so I thought I'd put it out to everyone there at mylot to see what you think.
Currently my only source of income is the online earning. That is Mylot and the PTC sites that are around right now. What I am wondering is if these earnings will require me to file taxes for next year since I am earning money through it? Does online earning such as this get filed on your taxes?
1 response
@SomeCowgirl (32191)
• United States
24 May 10
You have to earn $400.00 online before you file taxes. I called last tax time and anonymously asked if "If I earn online do I have to file it if I earn more then $600.00?" the tax lady said that I had to file it either way. Then I read on the IRS website not too long ago that it is now $400.00. I think your safe though as long as you don't make more then $400.00, and you are never audited.
@Jaluke (676)
• United States
24 May 10
Thank you so much for taking the time to respond. It was something I was legitimately concerned about because obviously I didn't want to not put it on there and end up in some kind of trouble with the IRS. So as long as I don't make more than $400.00 a year, I'm okay not filing it on my taxes?
1 person likes this
@SomeCowgirl (32191)
• United States
24 May 10
Well I mean I did say the woman said we had to file it either way, so I can't safely say you'll be okay but I'm figuring as long as you don't make that much a year you'll be fine.
In my opinion, I mean, if I knew what that entailed, I mean how much of it I'd have to pay back to the government, I'd be happy earning online, but as it is I am so hesitant...
