Tax on Mylot Earnings?
By dinkle
@dinkle (67)
United States
March 4, 2007 9:47pm CST
Hey everybody. Im new to the whole mylot thing, and i was wondering: Do you neeed to pay taxes on the money earned from mylot? I apologise if this question is answered somewhere on the site, but i didnt know..please respond!
3 responses
@limosonia1 (1559)
• United States
5 Mar 07
I am not sure what mylot rules are about reporting taxes but the general rule is that if you make anything over 600 dollars throught a year it must be reported and the company is suppose to issue a 1099. I am assuming that this is also the way mylot is going to do it at the end of the year. But I would still report it. So that you don't get yourself in trouble.
@brendalee (6082)
• United States
5 Mar 07
I think you have to earn about $600 before you have to claim it on your taxes. I am not sure about this but there was a discussion about it awhile back. If you do a search you might be able to find it.
